The U.S. Securities and Exchange Commission (SEC) has approved a Nasdaq cryptocurrency settlement price index that includes XRP and other altcoins, causing the Polymarket XRP ETF approval forecast to soar to 98%.
John Squire, an XRP enthusiast, recently reported that the possibility of Ripple ETF approval by the end of the year has risen to 98%. This is a sharp increase compared to when it had fallen below 70% just a few weeks ago and recovered to 80%.
Currently, the approval possibility has slightly decreased to 88%, but it still remains significantly above the average for this year. However, due to the SEC's continued review postponement, the approval possibility for the July 31st deadline has dropped to 17%.
Notably, this Nasdaq cryptocurrency settlement price index approval includes XRP, Cardano (ADA), Solana (SOL), and Stellar (XLM). Cryptocurrency experts interpret this as the SEC recognizing the liquidity and price reliability of these assets, suggesting that a major obstacle to ETF approval has been removed.
Interestingly, the year-end approval possibilities for Cardano and Solana ETFs have shown a downward trend. Cardano has sharply dropped from 70% to 42%, while Solana is showing a level lower than a week ago, recording 79%.
Meanwhile, Polymarket is known to show about 90% accuracy, so the rise in this forecast is drawing attention to its potential market impact.
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