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Highlights
- XRP price rose to a seven-year high at $3.38 after a 44% rally over the week.
- Several fundamental and technical factors contributed to the rally, the biggest being Donald Trump's win.
- The odds of Ripple ETF approval hit 70% on Polymakret, reflecting rising investor confidence amid XRP price rally.
The Ripple token, XRP, has been booming with new gains ever since Donald Trump’s win in the US elections. Recently, the XRP price has hit a new milestone and is just a few points away from hitting the ATH of $3.84, set seven years ago. This milestone has excited holders and increased the odds of Ripple ETF approval to 70%. That creates two questions: whether the Ripple price rally continues and whether its ETF will finally get approval. Let’s discuss.
Polymarket Odds For Ripple ETF Hits 70%, What’s Next?
The Ripple ETF has been discussed since the launch of the Bitcoin ETFs and their success. The anticipation grew even higher around the launch of the Ethereum ETF, both the ETF’s high inflows and rising popularity. However, the biggest constraint in this approval has been the SEC’s take on Ripple. However, things have begun to change with Trump’s win, Gensler’s resignation news, and much more.
The XRP price near ATH has sparked investor enthusiasm around Ripple ETF, which is why the Polymarket odds hit 70% today. This is a significant leap from just a week ago’s stats, which were just 50%, indicating people’s changing mindset with the XRP price rally. However, the odds of approval chances before July are still down to 50% on Polymarket. Analysts agree that things will settle slowly through 2025 and the upcoming years of Trump’s presidency.
Interestingly, JPMorgan believes that the Ripple ETFs can easily attract massive inflows of $4-8 billion within the first year. However, things like that depend on several factors. For now, the crypto enthusiast is awaiting ETF approval and its impact on the Ripple token’s price if the odds go right.
Bullish Factors Drive XRP Price To 7 Years High, But There’s More
With a 44% surge over the week, the Ripple token is among the most bullish cryptos of January. The token has followed a bullish trail ever since November. With that, it achieved the biggest recovery in the market, hitting a 7-year high at $3.38 earlier in the day. This happened because all the technical and fundamental factors aligned. From Trump’s win to Gary Gensler’s resignation, experts anticipate the close-up of the SEC vs Ripple case, the biggest eyesore for XRP holders. Further, the introduction of crypto-friendly associates of Trump and Ripple’s collaboration and adoptions led to the XRP price rally.
An earlier CoinGape blog explained how a bull flag pattern formed in Ripple charts, leading to the token’s bullish behavior. The same bull flag breakout suggests that the Ripple price will hit $10, $15, or even higher. In this, the whales’ accumulation is another positive sign for further gains, as the whale has accumulated over 1.04 billion tokens in just ten days.
Many other technical factors explain the bullishness of this token. Moreover, experts believe Genlser’s resignation will bring more clarity to the case and the most awaited Ripple ETF.
Key Things From The Post
After a 44% surge over the week, the XRP price sits just a few points away from surpassing the ATH target set seven years ago. Its bullish trail, fueled by fundamental and technical factors, brought the token to this milestone despite the market’s uncertainty and SEC vs Ripple case constraints. With rising prices, investor confidence is rising for the Ripple ETF, especially with Gary Gensler’s resignation this month. The polymarket bests on the ETF approval has increased, reaching 70% from 50% within a week, showing rising optimism. However, experts believe that things can stretch till 2025 end in approval and settlement.
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