Polymarket users are betting that an XRP ETF will be approved this year after the SEC dropped its appeal against Ripple.
Crypto community members are growing more optimistic about an XRP exchange-traded fund (ETF) approval following the resolution of a multi-year legal battle between Ripple and the United States Securities and Exchange Commission (SEC).
On March 19, Ripple CEO Brad Garlinghouse announced the case had concluded. In an X post, the Ripple executive said the SEC will drop its appeal against Ripple, ending the $1.3 billion unregistered securities suit that started in December 2020.
Following the development, Nate Geraci, president of the advisory firm ETF Store, said on X that the approval of an XRP (XRP) ETF is next. Geraci said it was “obvious” that it’s only a “matter of time” before the SEC approves an XRP ETF.
