Altcoin
Ripple ETF Launch Bet Soars Sparking Optimism, What’s Next?
XRP News: The recent global shifting focus toward digital assets has once again fueled a rally in the broader digital assets space. Amid this, Ripple’s native crypto emerged as a top player, with a flurry of developments backing the positive outlook for the crypto. In addition, the soaring anticipation over a potential approval of the Ripple ETF, as per the betters on the prediction marketplace Polymarket, has further boosted market sentiment.
XRP News: Ripple ETF Speculations Boost Sentiment
In the latest XRP news, Polymarket showed that there is a 70% probability of a potential Ripple ETF approval in the US. According to the data, the bets have increased significantly over a potential approval by December 31, 2025. This has fueled speculation among investors, especially as market sentiment has recently been boosted after Donald Trump’s election win.
For context, Bitcoin as well as the top altcoins has recorded a robust rally over the past few months. Donald Trump’s victory and his active support for the crypto market during his election campaign have bolstered the market sentiments.
Besides, his recent nomination of crypto-friendly Paul Atkins as the new US SEC chair after Gary Gensler has further fueled investors’ hope. This move has also sparked discussions over a potential dismissal of the Ripple Vs SEC lawsuit under the incoming SEC chair.
Having said that, several experts anticipate a flurry of crypto ETFs to be approved this year. Apart from XRP ETF, the market experts are also putting their bets on the Solana ETF approval in 2025. Notably, Polymarket data showed that there is an 82% chance of a potential SOL ETF approval in 2025.
What Lies Ahead For Ripple Coin?
XRP price today was up over 3% and traded at $2.42, while its market cap touched $138.88 billion. The one-day trading volume of the crypto fell 41% to $6.22 billion. Notably, the crypto has touched a 24-hour high and low of $2.47 and $2.35, respectively. However, despite the surge, Ripple Futures Open Interest slumped 2%, highlighting the cautious stance of the investors.
However, the market experts remained optimistic about the future trajectory of the coin. For context, in a recent X post, renowned analyst Dark Defender said that Ripple’s price is poised to hit $5.85 once it soars past the critical support of $2.72. He also noted that the crypto has found a new support at $2.22.
Meanwhile, the soaring anticipation over a potential Ripple ETF approval in the US has further boosted the market sentiment. Having said that, its native crypto is likely to witness robust growth ahead, given the recent positive developments. For context, a recent XRP price prediction indicated that the crypto is gearing up for a robust rally, especially amid the soaring global adoption of the asset.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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