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Crypto community members are growing more optimistic about an XRP (
$1.28 ) exchange-traded fund (ETF) approval following the resolution of a multi-year legal battle between Ripple and the United States Securities and Exchange Commission (SEC).
On March 19, Ripple CEO Brad Garlinghouse announced the case had concluded. In an X post, the Ripple executive said the SEC will drop its appeal against Ripple, ending the $1.3 billion unregistered securities suit that started in December 2020.
Following the development, Nate Geraci, president of the advisory firm ETF Store, said on X that the approval of an XRP ( $1.28 ) ( XRP ( $1.28 ) ) ETF is next. Geraci said it was “obvious” that it’s only a “matter of time” before the SEC approves an XRP ( $1.28 ) ETF.
The executive predicted that asset managers like BlackRock and Fidelity would be involved in offering the asset.
Polymarket punters give 86% odds to XRP ( $1.28 ) ETF approval in 2025
Aside from Geraci, users on the crypto betting platform Polymarket also expect approval for an XRP ( $1.28 ) ETF in 2025. On March 26, Polymarket gave an 86% chance that an XRP ( $1.28 ) -based ETF product would be approved this year.
The bet will resolve if an XRP ( $1.28 ) ETF receives approval from the SEC by Dec. 31. At the time of writing, the betting market had a volume of $55,000.
Polymarket shows an 86% chance that a Ripple ETF will be approved in 2025. Source: Polymarket
However, users only give a 42% chance that an XRP ( $1.28 ) ETF will be approved before July 31.
Despite being a gambling site, Polymarket users’ predictions have historically been very accurate. A Dune Analytics dashboard studying the accuracy of Polymarket bets showed that the platform had been accurate by over 90% a month before betting markets were resolved.
Related: SEC plans 4 more crypto roundtables on trading, custody, tokenization, DeFi
XRP ( $1.28 ) price only surged by 5% as the SEC battle ends
Despite being a huge milestone, the end of the multi-year legal battle between Ripple and the SEC failed to move the markets significantly. On March 19, XRP ( $1.28 ) traded at $2.32, according to CoinGecko. At the time of writing, the asset hovers at around $2.44, a 5% increase.
On March 21, analysts said the new development had already been priced in. Nicolai Sondergaard, research analyst at Nansen, previously told Cointelegraph that the resolution had been widely expected.
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