The probability of approval for a spot XRP ETF in the US has risen to 90% on the Polymarket platform. This development comes at a time when Canada’s Purpose Investments, 3iQ, and Evolve are launching XRP ETFs approved by the Ontario Securities Commission (OSC), ahead of the US.
Despite significant liquidations in futures, the XRP price maintains its stability at around $2.15.
The likelihood of approval for a spot XRP ETF in the US has significantly increased in recent weeks. On the crypto prediction platform Polymarket, this probability has risen from around 70% to 90%. There is similar optimism for XRP following the approval of spot ETFs for Bitcoin (BTC) and Ethereum (ETH). However, the US Securities and Exchange Commission (SEC) has postponed its decision on Franklin Templeton's spot XRP ETF application by 35 days and has initiated a public comment period. Thus, the final approval decision has been pushed to the second half of the year.
Canada is taking a leading position in the sector by launching OSC-approved XRP ETFs from companies like Purpose Investments, 3iQ, and Evolve.
This high approval probability on Polymarket is supported by over $95,000 in trading volume. The platform's quick reaction to regulatory developments and market perception stands out as a valuable indicator of participants' expectations.
The approval of a spot XRP ETF means that XRP will be traded on traditional exchanges. This will eliminate the need for a crypto wallet, making XRP more accessible to mainstream investors and institutions. It could especially pave the way for major institutional players who are hesitant to invest directly in crypto to turn to XRP.
The approval has the potential to provide new liquidity flow to the XRP market and attract large investors such as hedge funds and asset managers. This could positively affect the adoption and price of the altcoin.
While regulators in the US are cautious in their ETF decisions, Canada is taking a clearer and more proactive approach. Purpose Investments has offered a zero-cost ETF alternative for investors by waiving management fees until February 2026. The asset size managed by the company's spot XRP ETF has already exceeded $8.3 million.
Canada's open regulatory structure allows real products to hit the market quickly, while the uncertainty process in the US continues to slow things down. This highlights the differences in global crypto regulations.
Notable Resilience in XRP Price
While expectations for spot XRP ETF approval are rising, the XRP price managed to stay strong despite significant liquidations in futures. In the last 12 hours, long positions in the XRP futures market were liquidated approximately 8466% more than short positions, resulting in over $508,000 in total liquidations.
Despite this, the XRP price remained stable at around $2.15 with only a slight increase of 0.20%. This situation indicates the presence of strong institutional support and depth in the spot market while excessive position liquidations occurred in the futures market.
The resilient trend of the price indicates the increasing institutional interest in XRP and the market's resilience.
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