XRP ETF Approval Appears Imminent, Market Sentiment Strongly Points to 2025 Launch

XRP, the digital asset associated with Ripple, appears to be on the cusp of a significant milestone, with market sentiment strongly pointing towards the approval of an XRP exchange-traded fund (ETF) this year.

The digital asset associated with Ripple, XRP, appears to be on the cusp of a significant milestone, with market sentiment strongly pointing towards the approval of an XRP exchange-traded fund (ETF) this year.

According to predictions from users on platforms like Polymarket, there is a high probability (83%) that an XRP ETF will be approved in 2024. One user on Billmarket is even more bullish, with a 99% prediction for XRP ETF approval.

This optimism reflects the shifting regulatory landscape and Ripple’s increasing influence within the financial sector.

Recently, Ripple CEO Brad Garlinghouse indicated that XRP could soon be included in both national cryptocurrency reserves and ETF offerings. Garlinghouse’s recent statements suggest a more positive relationship between Ripple and U.S. regulators, potentially clearing the path for investment products linked to XRP.

Billmarket user predicts 99% chance for XRP ETF approval in 2024.

Garlinghouse has previously emphasized that regulatory acceptance is crucial for XRP’s potential inclusion in future ETFs. He noted that the Biden administration's administration presented challenges for crypto inclusion in both national cryptocurrency reserves and ETF offerings.

However, Garlinghouse highlighted that the current administration is more open to engaging with the industry. This shift has led to increased investor interest and inflows into XRP-backed investment vehicles.

According to Garlinghouse, there are currently eleven ETF filings involving XRP awaiting approval from the U.S. Securities and Exchange Commission (SEC). Consequently, anticipation for an XRP ETF launch remains high in 2025.

Garlinghouse also mentioned the U.S. government’s ongoing consideration of establishing a cryptocurrency reserve. This reserve could potentially include major cryptocurrencies such as Bitcoin, Ethereum, Cardano, Solana, and XRP.

Beyond these prominent assets, the reserve might also incorporate cryptocurrencies seized through law enforcement actions. If implemented, this strategy would further solidify XRP’s role within the broader cryptocurrency ecosystem.

In other news, the cryptocurrency market is showing signs of recovery, with Bitcoin approaching the $72,000 mark. This surge follows reports of a U.S. judge dismissing the SEC’s lawsuit against Paul Grewal, Ripple’s Chief Legal Officer.

As market optimism grows, it remains to be seen how quickly the SEC will approve the pending XRP ETF filings.