Following the conclusion of the SEC and Ripple Labs lawsuit, the latter’s native XRP cryptocurrency is surging in price. The coin is up over 7% in the past week and saw a 12% surge on Friday. In addition, with numerous pending applications from investment firms, the odds of approval for an XRP ETF are rising, according to Bloomberg experts. Indeed, the highly anticipated launches could very well come before 2025 is over.
The odds of Spot XRP ETF approval recently fell by 65%. The drop was reportedly due to SEC Commissioner Caroline Crenshaw’s consistent opposition to crypto ETFs, which worried several investing experts. However, Bloomberg senior ETF analyst Eric Balchunas says the reaction was overblown, reaffirming his projections. Since then, sentiment has reversed sharply, with the approval likelihood now surging to around 88%.
“Interesting, trades reporting how Polymarket odds of XRP ETF approval went down to 62% after the votes were disclosed, showing Crenshaw voting no, but a) she’s gonna vote no on EVERYTHING and b) it’s meaningless, she’s outnumbered = we haven’t changed our odds, still at 95%,” Balchunas wrote on X. Additionally, the conclusion of the SEC vs. Ripple lawsuit immediately shifted market sentiment regarding the XRP ETF. Polymarket odds rose to around 87%, showing a 16% increase in the last 48 hours.
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The SEC and Ripple Labs filed joint paperwork to the Second Circuit Appeals Court, requesting dismissal of both appeals across several key regulatory channels. The SEC Ripple case resolution confirms that each party will bear their own legal costs, ending the regulatory uncertainty that has been surrounding XRP since late 2020 through various major enforcement actions. “Following the Commission’s vote today, the SEC and Ripple formally filed directly with the Second Circuit to dismiss their appeals,” Ripple’s Chief Legal Officer Stuart Alderoty said Friday. “The end…and now back to business.”
Data shows XRP maximized gains of nearly 99% from its April low of $1.79 to a July peak of $3.56, demonstrating how the SEC Ripple case resolution has revolutionized investor confidence across several key trading sectors. The asset continues to be a leader among altcoins in the digital asset sector, and the landmark decision in the SEC lawsuit could send Ripple towards further all-time-highs in the coming months. That timeline can accelerate as well if Ripple XRP ETFs receive approval before the Summer ends.
