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The odds of an XRP ETF being approved have risen to 70% today, according to crypto market forecaster Polymarket.
This increased optimism comes as XRP hits an all-time high of $3.39, a level not seen in nearly seven years.
Optimism for XRP ETF Approval
Hopes for an XRP ETF being approved by the Securities and Exchange Commission (SEC) have been rising, driven by the success of US Bitcoin ETFs in 2024.
The filing of applications by several asset management firms for alternative cryptocurrency ETFs, coupled with former President Donald Trump’s strong support for the crypto industry, has also increased demand for these funds from individual investors.
This optimism was clearly reflected in the performance of the XRP market, as the coin recorded a new record high after surging by more than 40% during the week.