A major decision regarding the XRP ETF will be made tomorrow (June 17). With Ripple pushing for a legal resolution and the SEC preparing to decide on Franklin Templeton's ETF filing, XRP could be poised for a parabolic move if things go in its favor.

The approval rate for the XRP ETF is strong at 88%

The approval rate for the spot XRP ETF on Polymarket surged to 98% in June and slightly decreased to 88% this week. The SEC is expected to announce its decision on Franklin Templeton's spot XRP ETF tomorrow, June 17. This could be a major turning point for XRP and the cryptocurrency market in general.

Another delay?

Bloomberg analysts now predict an 85% chance that the XRP ETF will be approved this year. Leading companies like Bitwise and Grayscale are also awaiting approval. Grayscale's decision on the XRP ETF is likely to be announced on October 18, while ProShares has requested a final decision by June 25. If approved, the SEC will not be able to delay ProShares' ETF after that date.

Bloomberg ETF analyst James Seyffart stated that the recent delay of the XRP ETF is normal and not surprising. The SEC usually takes its full time for consideration, with most final decisions expected in October. He also mentioned that even with a crypto-friendly SEC, early approval would be 'beyond the norm.'

Nate Geraci, President of Crypto ETF Store, explained how cryptocurrency ETFs are rapidly evolving with staking, physical redemption, and upcoming altcoin ETFs.

Ripple and the SEC filed a second joint motion on June 12, asking Judge Torres to lift the ban on selling XRP to institutions and reduce the $125 million fine. Legal experts are closely monitoring.

While some believe that Judge Torres may approve this move on June 19, others remain cautious. Cryptocurrency advocates like John Deaton argue that this move has a 70% chance of success, while Bill Morgan warns that the court may oppose it again.

Approval could pave the way for a spot XRP ETF, with Franklin Templeton's deadline being closely watched. But with the ongoing legal battle, the SEC may delay its decision.

XRP is currently trading at $2.23, up 3.2% in the last 24 hours. With legal clarity and ETF approval, a major breakthrough could be imminent for XRP. However, any delays or failures could lead to a short-term sell-off.