Polymarket’s prediction market indicates a growing belief in Ripple’s ETF approval by 2025, with the likelihood rising to 81%. This marks an 11% increase from earlier projections, reflecting heightened optimism driven by recent legal developments and XRP’s performance. The increased approval chances come as Ripple overcomes major hurdles in its lawsuit with the U.S. Securities and Exchange Commission (SEC). The market, with a volume of $54,474, reveals investor confidence in the approval as the legal battle and regulatory clarity progress.
Legal Victory Fuels Ripple’s Market Surge
The SEC’s decision to drop the lawsuit against Ripple, which had accused the company of illegally selling XRP as an unregistered security, was a turning point. This case, filed in December 2020, had caused severe volatility in XRP’s price, leading to major exchanges delisting the token. The market’s reaction to the legal resolution has been favorable, with XRP seeing an 8.44% rise, trading at $2.49021 as of press time. This surge is viewed as a direct result of Ripple’s legal win, which allowed the company to refocus on partnerships and market expansion.
The lawsuit’s closure has also cleared the path for Ripple to pursue the approval of its ETF without the shadow of regulatory uncertainty. XRP’s price action is showing clear signs of recovery, with a breakout above the $2.50 resistance level potentially leading to further upward momentum. XRP’s price is nearing a critical test of resistance around $3.50, and a successful breakout could signal a more bullish trend.
Related: SEC Drops Ripple Lawsuit: XRP Surges After Five-Year Battle
XRP’s Price Analysis Amidst Legal Clarity
XRP’s price of $2.49021 reflects positive momentum as it nears key resistance levels. The RSI stands at 57.92, indicating that the asset is not yet overbought, leaving room for more price increases. MACD indicators at -0.06684 and 0.46259 further signal reduced bearish pressure, suggesting that the bullish trend could persist.
Source: Tradingview
Additionally, the chart pattern reveals a cup-and-handle formation, a commonly bullish pattern that signals the potential for further price increases. The price could soon test the $3.50 resistance, and should it breakthrough, the market may witness a substantial rally, extending Ripple’s upward trend from the ongoing legal win and the favorable outlook on its ETF approval.
