- XRP ETF Polymarket odds briefly surged above 70%
- Surge was driven by speculation about Trump’s receptiveness to XRP and other tokens
Ripple’s online community, better known as the “XRP Army,” is very bullish on the altcoin. This, on the back of its recent surge to a new seven-year high above $3. However, that’s not all.
Especially since now, market expectations for a U.S Spot XRP ETF are very high. In fact, approval odds for the same briefly surged to 72% on 17 January on Polymarket.
Source: Polymarket
Now, although Polymarket’s odds retreated slightly to 68% at press time, the surge to +70% was noteworthy. For context, the odds pumped by 15% in less than 24 hours – A somewhat contrary move after the SEC filed an appeal against Ripple Labs. So, what was the driver?
Well, the sharp optimism could have been linked to speculation that President Donald Trump is “receptive to crypto reserves” including XRP. This was part of a recent report by the New York Post.
Source: X
Right now, many believe that Litcoin [LTC] will be the next altcoin to have a Spot ETF. Hence, the question – Will XRP be the next? According to Ripple Labs’ Monica Long, XRP ETF is likely ‘next in line.’
Despite the ongoing SEC lawsuit, the community is now hopeful for a bullish XRP ETF outcome, given that the incoming administration is deemed pro-crypto. The optimism could be validated if the new regime “freezes” some crypto lawsuits and offers more regulatory clarity on XRP’s legal status.
In the meantime, XRP has extended its November gains to +570%. At the time of writing, it was attempting to hold above its local high of $3.3. Should it reclaim it, $4.3 could be within reach for the altcoin.
Source: XRP/USDT, TradingView
