Ripple ETF Odds Soar Above 70% as XRP Price Hits New All-Time High

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Since Donald Trump’s victory in the U.S. elections, the value of Ripple‘s token, XRP, has been climbing significantly. Lately, the XRP price has reached a significant new peak and is very close to achieving its all-time high (ATH) of $3.84, which was established seven years ago. This recent achievement has sparked enthusiasm among holders and increased the likelihood of Ripple ETF approval to 70%. This raises two questions: will the upward trend in XRP price continue and will the Ripple ETF eventually receive approval. Let’s delve into it.

Polymarket Odds For Ripple ETF Hits 70%, What’s Next?

The Ripple Exchange-Traded Fund (ETF) has been a topic of conversation since the introduction of Bitcoin ETFs and their positive performance. As the Ethereum ETF was introduced, interest skyrocketed due to its significant investments and growing popularity. However, the main hurdle in gaining approval for this ETF has been the Securities and Exchange Commission’s (SEC) stance on Ripple. However, recent events like Trump’s election, news of Gary Gensler’s resignation, and more have started to shift things in a new direction.

The current price of XRP close to its all-time high has ignited investor interest in a potential Ripple ETF, causing the probability on Polymarket to reach 70% today – a considerable increase from last week’s 50%. This shift reflects investors’ evolving perspectives due to the XRP price surge. Despite this, the likelihood of approval before July remains at 50% on Polymarket. Experts anticipate a gradual resolution over the next few years, including during President Trump’s term.

It’s intriguing to note that JPMorgan anticipates Ripple ETFs could potentially draw investments worth $4-8 billion in their initial year, but this largely hinges on various factors. For now, crypto enthusiasts are keeping a close eye on the ETF’s approval and its potential influence on the price of the Ripple token should things turn favorable.

Bullish Factors Drive XRP Price To 7 Years High, But There’s More

Over the past week, the Ripple token has experienced a 44% increase, making it one of the most optimistic cryptocurrencies in January. Since November, this token has been on an upward trajectory and achieved the largest market recovery, reaching a 7-year high at $3.38 during the day. This surge can be attributed to several factors aligning both technically and fundamentally.

The anticipation stems from events such as Trump’s election victory and Gary Gensler’s resignation, which may lead to the resolution of the ongoing SEC vs Ripple case. This case has been a significant concern for XRP holders. Additionally, the appointment of crypto-friendly figures in Trump’s administration and Ripple’s collaborations and adoptions have contributed to the recent surge in the price of XRP.

Previously, a bull flag pattern was detailed in a CoinGape blog post, indicating Ripple’s bullish trend. Breaking out from this same bull flag pattern indicates that Ripple’s price may reach $10, $15, or potentially even more. Additionally, the fact that whales have amassed over 1.04 billion tokens in just ten days serves as a positive indicator for further increases in value.

Additionally, numerous technical elements contribute to the optimistic outlook for this token. Furthermore, experts posit that General’s resignation could shed light on the situation and potentially accelerate the approval of the highly anticipated Ripple Exchange-Traded Fund (ETF).

Key Things From The Post

Following a significant 44% increase over the past week, the XRP price is on the verge of exceeding the seven-year-old ATH (All Time High) target. This bullish momentum, driven by both fundamental and technical factors, has propelled the token towards this achievement, even amidst market volatility and ongoing legal issues between Ripple and the SEC. The increased prices have boosted investor confidence in the potential Ripple ETF, particularly following Gary Gensler’s recent resignation. In fact, predictions for ETF approval have surged, with the optimism level reaching 70%, up from 50% just a week ago. However, experts caution that the process could extend until the end of 2025.

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2025-01-17 11:20