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Odds on the approval of an XRP ETF surged from below 50% to 70% on Polymarket, fueled by optimism surrounding the crypto policies of Donald Trump’s incoming administration.
This has lifted its native token’s price, with some experts anticipating a strong rally ahead.
The cryptocurrency market is rising again, driven by a global shift toward digital assets. In these circumstances, Ripple’s native token stood out as a key player, supported by a series of positive developments that influenced its positive outlook.
What also boosted market sentiment is the growing anticipation of a potential XRP ETF approval, according to Polymarket prediction odds.
XRP ETF Speculation Drives Market Sentiment
Ripple ETF approval in the US could be on the horizon, with Polymarket indicating a 70% probability. The odds have surged significantly on a potential Ripple ETF approval by December 31, 2025. This fueled speculation among investors, especially because market sentiment was boosted by Donald Trump’s recent election win.
Trump’s victory and his open support for the crypto market during his election campaign definitely influenced market sentiment. Over the past months, Bitcoin and other popular cryptocurrencies have seen significant rally, accompanied by increased adoption.
Furthermore, the recent nomination of crypto-friendly Paul Atkins as the new US SEC chair, following Gary Gensler, additionally boosted investors’ hope. This development also sparked rumors of a possible resolution to the Ripple vs. SEC lawsuit with the new SEC leadership.
Some experts also predict that the next year will be followed by a wave of approved crypto ETFs. In addition to XRP ETF, market analysts are optimistic about the potential approval of Solana ETF in 2025. There’s an 82% chance of Solana ETF approval in 2025, according to Polymarket.
What Is Next For XRP?
Today, the ripple price was up over 3% and traded at $2.42, with a market cap of $138.88 billion. Its one-day trading volume fell 41% to $6.22 billion. The crypto reached a 24-hour high of $2.47 and a low of $2.35. Despite the price surge, Ripple Futures Open Interest declined by 2%, suggesting investors stayed cautious.
Despite caution, market analysts are optimistic that Ripple will have a bright future. Dark Defender, a well-known crypto analyst, stated that Ripple’s price could reach $5.85 once it surpasses the critical support level of $2.72. In his X post, the analyst also highlighted that the cryptocurrency found new support at $2.22.
Hi there. XRP heard us yesterday after our post when he strolled around $2.11.
We broke the initial resistance at $2.22 & hit $2.44.
We identified $2.42 as resistance earlier and can now say this is an updated level.
New Support: $2.22
$2.67-$2.72 levels must be broken, then… pic.twitter.com/4bJSuXn3z2
— Dark Defender (@DefendDark) January 2, 2025
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