Ripple’s XRP is back in the spotlight as Bloomberg analysts say there’s now an 85% chance of a U.S. spot ETF approval.
On X, Bloomberg ETF analyst Eric Balchunas shared a post saying, “Would love to hear directly from Atkins, but all good chance of happening.”
This wave of optimism follows Paul Atkins’s official taking over as Chair of the U.S. Securities and Exchange Commission (SEC). Many in the crypto space view Atkins as far more supportive of digital assets than his predecessor, Gary Gensler, who was known for his tough regulatory approach.
Balchunas noted that “nothing was going to get approved” before Atkins’ confirmation. Now that he’s in office, analysts believe the SEC will begin working on a strategy for approving spot ETFs—especially those for altcoins like XRP.
ETF experts Balchunas and James Seyffart say it’s not a matter of if but when. While some delays are still possible, approvals could happen well before the final deadlines in October 2025 or by year-end in the worst-case scenario.
If sanctioned, this would be a significant victory for XRP and the wider crypto community, as ETFs draw huge institutional investors.
Additonally, Polymarket bettors are growing increasingly confident, now giving XRP ETFs an 80% chance of approval by year-end or sometime in 2025.
XRP ETF: Why It Matters
A spot ETF is a financial product that allows investors to gain exposure to an asset—like XRP—without owning it directly. It’s safer and easier for institutions, which is why spot ETFs for Bitcoin have already driven significant investment into crypto.
The SEC recently approved ProShares’ XRP futures ETF, which trades contracts rather than actual XRP—but it’s still seen as a bullish signal. While rumors sparked excitement over a potential spot XRP ETF launch on April 30, no official date has been confirmed. Experts say a spot ETF approval could unlock over $100 billion in new capital for the market.
There are other altcoins in the competition as well. Spot ETFs for Litecoin (LTC) and Solana (SOL) have a 90% chance of approval. Dogecoin (DOGE) and Hedera (HBAR) trail at 80%. Cardano (ADA), Avalanche (AVAX), and Polkadot (DOT) are at 75%.
XRP Price Faces Short-Term Pressure
While the long-term outlook is strong, XRP’s price is under pressure in the short term. It’s currently trading around $2.24, falling from its April peak of $2.36. Technical indicators show that selling momentum is growing.
If the price drops below key support levels—first at $2.17, then at $2.00—XRP could fall toward $1.80, and possibly $1.61 if bearish pressure continues.
Still, many traders remain hopeful that news of a spot ETF approval could reverse the trend and trigger a strong rebound, possibly pushing XRP above $3.40 in a bullish scenario.
Also Read: SEC Delays Decision on Franklin Templeton’s Spot XRP ETF
