The likelihood of the Ripple ETF being approved soared to 89% after the settlement with the SEC.

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The likelihood of the SEC approving the Ripple ETF surged to nearly 89% on August 8, according to data from the prediction platform Polymarket. This development came just hours after the SEC and Ripple reached a settlement to end the lawsuit that had been ongoing since 2020. Observers believe that the resolution of this legal dispute has removed a significant barrier that was previously seen as a critical reason for the SEC to reject the Ripple ETF.

Before August 6, the predicted rate was over 70%, then dropped to 62% due to the information that SEC Commissioner Caroline Crenshaw voted against. However, Bloomberg's ETF expert Eric Balchunas believes this does not have a significant impact as Ms. Crenshaw is part of the minority, and he estimates the actual approval likelihood is 95%.

At the same time, positive news has helped the price of XRP rise more than 12% to 3.36 USD before adjusting back to 3.24 USD. Many investors expect XRP to challenge or surpass the historical peak reached in July.

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