Crypto bettors are no longer bullish about XRP ($2.38), at least not in the short term.
Data from the crypto prediction platform Polymarket shows bettors put the chances of XRP reaching a new record before the end of the first half at 26%.
That’s down from 56% earlier this month when expectations were much higher that the US would stockpile altcoins, including XRP, for a proposed crypto reserve.
Those plans did not materialise as President Donald Trump signed an executive order to create a digital asset stockpile that won’t purchase any new tokens, at least for now.
Without any new narrative to spur investor interest, XRP has been caught up in the broader crypto slump that has seen the market shed $600 billion in value since the start of 2025.
XRP is down 31% since Trump’s inauguration.
Still, there have been bullish signals for XRP. On a Kelshi prediction market, bettors put the odds of Ripple outperforming Bitcoin and altcoins at 48%.
The Ripple-linked cryptocurrency is among a raft of altcoin ETFs currently under review by the Securities and Exchange Commission. A decision on those filings is expected by mid-October at the latest.
JPMorgan predicts that XRP ETFs will draw in $8 billion in inflows from investors in the first year after launch.
Retail interest in XRP is also significant, especially in South Korea, where whale wallets acquired $700 million worth of the cryptocurrency last week.
Data from crypto derivatives platform Deribit shows traders are punting for a $5 XRP price this year.
The $5 call is the most popular for XRP on Deribit, with a notional value of $3.9 million.
Crypto market movers
- Bitcoin is up 2.8% over the past 24 hours to trade at $83,269.
- Ethereum is up by 3.2% within the same period to trade at $1,915.
What we’re reading
- Trump should scrap Bitcoin reserve for ‘enriching president and donors,’ lawmaker says ― DL News
- Milk Road PRO ($0.98) Portfolio Update – Mar 12, 2025 — Milk Road
- Tokenized Treasuries Grow 20X Faster Than Stablecoins as Crypto Market Languishes ― Unchained
- Disturbing visual → valuable lesson— Milk Road
- Stablecoin bill advances to full Senate vote with help from Democrats ― DL News
Osato Avan-Nomayo is our Nigeria-based DeFi correspondent. He covers DeFi and tech. Got a tip? Please contact him at [email protected].
