The likelihood of XRP ETF approval fell to 52% on Polymarket after SEC Commissioner Caroline Crenshaw expressed opposition. This was a sharp decline from 87% before her announcement.
Despite the initial dip, the approval chances recovered to 86%. Analyst Eric Balchunas from Bloomberg sees this market reaction as an overreaction, maintaining a high confidence level regarding approval.
As uncertainty persists in the U.S., global interest in XRP ETFs is rising, with Japan’s SBI Holdings recently applying for an ETF that includes XRP.
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