XRP ETF Approval Odds Rise To 88% Amid Ripple Lawsuit Win

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The odds of XRP ETF approval recently fell by 65%, reportedly due to SEC Commissioner Caroline Crenshaw’s consistent opposition to crypto ETFs, which shook market confidence. However, Bloomberg senior ETF analyst Eric Balchunas believes the reaction was overblown. Since then, sentiment has reversed sharply, with the approval likelihood now surging to around 88%.

Analyst Maintains 95% Probability of XRP ETF Approval 

Crenshaw has been consistently voting against all 13 crypto ETF proposals, including Bitcoin, Ethereum, and XRP-related products. Her vote resulted in lowering the approval chances from highs above 80-90% down to around 65% to 66%. 

Despite this market reaction, Balchunas and James Seyffart maintain an approval probability of 95%. The Bloomberg expert argued that Crenshaw is a lone anti-crypto commissioner, and her vote is pointless against the majority. 

Balchunas stated on X, “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%.” 

Also Read :   “XRP Was, Is, and Will Never Be a Security” – Says Bill Morgan   ,

What Does the End of Ripple Lawsuit Mean for XRP ETF?

The end of the SEC vs Ripple lawsuit immediately shifted the market sentiment on the XRP ETF. Polymarket odds rose to around 87%, showing a 16% increase. The legal victory brought regulatory clarity and renewed market confidence, addressing the uncertainties in the XRP. 

The XRP price even surged to 11.4% after both entities filed a joint dismissal of their appeals. The legal clarity removed a major regulatory obstacle, boosting confidence in a green light for an XRP ETF. Now, if the SEC ultimately approves ETF applications, it will lead to large institutional inflows and a price surge.