XRP ETF Odds Soar to 80% as Price Rebounds

Polymarket, a leading platform for crypto market transactions, has analyzed recent changes and suggested that the odds of ETF approval are now at 80%. This assessment comes amidst various market approvers and analysts weighing in on the situation.

The past two months have seen a sharp decline in XRP's price, but recent developments have sparked a turnaround. XRP's price has not fallen for the last four days, marking a significant change in its recent trajectory. The coin has experienced a 10.57% growth, reaching a price of $2.78, and has recovered 50% from its monthly low.

Prior to this price surge, the SEC hinted at the possibility of approving a prime section of XRP ETFs this year. Polymarket, known for its accurate mapping of past events, including the US election, has high confidence in this prediction.

Several companies, including Grayscale, 21Shares, and Bitwise, have applied for spot XRP ETFs. The SEC, under its new chairman, may be receptive to these continuous demands, given the pro-crypto policy of the Trump administration. This policy includes the appointment of officials with detailed knowledge of crypto trading in main regulatory positions.

Technical analysis of XRP's price chart shows a candlestick pattern in the form of a hammer with a longer lower shadow. This pattern indicates a potential recovery for the coin. Developers of XRP are hopeful about the situation, suggesting that the coin is gradually entering the overshoot zone, which signifies a significantly higher than normal resistance level.

The coin may also be favored by a Wyckoff phase, which involves a markdown stage characterized by a price decline as holders start selling. To regain user confidence, the coin must end the year above $3.40.