XRP ETF Approval Odds Surge as Token Hits New Record High
XRP ETF Approval Odds Surge as Token Hits New Record High Alex Dovbnya XRP ETF approval odds have soared sharply on Polymarket Cover image via www.freepik.com According to data provided by Polymarket, the odds of an XRP ETF being approved by the U.S. Securities and Exchange Commission in 2025 have spiked sharply higher. At press time, Polymarket bettors see a 71% chance of an XRP ETF being greenlighted by the SEC this year. However, it is worth noting that this market has a low volume of just $6,128, which is why the current odds should be taken with a grain of salt. The market was launched on Jan. 1. The odds of an XRP ETF being approved by July 31 currently stand at 52%.With just mere days left before the departure of SEC Chair Gary Gensler, there is growing speculation about whether the SEC is ready to grant approval for more altcoin ETFs. Related There is growing chatter about Litecoin (LTC), one of the oldest alternative cryptocurrencies that was created as a fork of the Bitcoin network, Nasdaq recently submitted a regulatory filing seeking approval to list and trade shares of Canary Capital's Litecoin ETF. XRP's new record high As reported by U.Today, the XRP token rallied to a new record high following rumors about the U.S. potentially creating a reserve with a basket of American coins such as XRP. Moreover, Reuters recently reported that the SEC will likely drop some non-fraud crypto enforcement cases. Stuart Alderoty, the top lawyer at Ripple, has predicted that the agency is likely to abandon its appeal against the company.Meanwhile, there are ongoing debates about whether or not XRP actually hit a new record high since the token briefly surged to $3.8 in 2018. However, according to Ripple's David Schwartz, the prices were inflation by the data from Korean exchanges back then. "If you couldn't actually sell XRP at that price and didn't need to pay that price to buy XRP, it's not the real price. Prices were inflated by taking prices from Korean exchanges, converting to dollars at an unreasonable exchange rate, and averaging them into reported prices," he said. Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. About the author Alex Dovbnya Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected]. Related articles