Expectations for the approval of a spot XRP cryptocurrency exchange-traded fund (ETF) in the US have significantly increased. The probability of approval on the Polymarket prediction platform has surged from 70% a few weeks ago to 90%. This shift reflects growing optimism for a spot ETF for XRP, following Bitcoin (BTC) 
$75,013 and Ethereum (ETH) 
$2,301. However, the US Securities and Exchange Commission (SEC) has postponed its decision on Franklin Templeton’s spot XRP ETF for 35 days and initiated a public comment period, delaying the final decision to the second half of the year. In parallel, companies like Purpose Investments, 3iQ, and Evolve in Canada have taken the lead by launching XRP ETFs approved by the Ontario Securities Commission (OSC).
Spot XRP ETF Approval Optimism Surges in the US
On Polymarket, this high probability is supported by a trading volume exceeding $95,000. The platform is known for its swift response to regulatory news and overall market perception, providing valuable insights into participants’ predictions.
Approval of a spot XRP ETF would mean trading on traditional exchanges, eliminating the need for cryptocurrency wallets. This would make the altcoin much more accessible for mainstream investors and institutions, particularly large institutional players who often avoid direct crypto investments.
Such an approval has the potential to bring fresh liquidity to the XRP market and attract large-scale investors like hedge funds and asset managers. This could create a significant positive impact on the adoption and value of the altcoin.
Canada Leads in XRP ETF Race as US Delays
While US regulators hesitate to make a decision on ETFs, Canada has taken a clearer and proactive stance. Companies like Purpose Investments, 3iQ, and Evolve have successfully launched spot XRP ETF products with the necessary approval from the OSC, putting Canada at the forefront in this field.
Purpose Investments set another precedent by temporarily waiving management fees until February 2026. This move makes its spot XRP ETF the first zero-fee option for early investors. The product currently boasts assets under management exceeding $8.3 million.
Canada’s clear regulatory framework allows real-world products to be rapidly implemented, while ongoing uncertainty in the US continues to hinder progress. This contrast highlights the regulatory diversity in the global cryptocurrency market.
The Surprising Resilience of XRP Prices
As expectations for a spot XRP ETF climb, the price of XRP demonstrates remarkable stability amidst extreme market fluctuations. Over the past 12 hours, there has been an unusual 8,466% higher liquidation of long positions than short positions in the XRP futures market, with $508,000 evaporated in the wave of liquidations.
Despite this, the price of XRP scarcely budged, registering only a 0.20% gain and trading at approximately $2.15 over the past 24 hours. This intriguing scenario suggests that, unlike some futures investors who turn to excessive buying due to ETF optimism, the spot market is supported by large-scale players.
The strength in XRP’s price is interpreted as an indicator of increasing institutional interest and market depth, highlighting the cryptocurrency’s resilience in the face of market stress.
