Dogecoin and XRP ETF Hopes Fuel Optimism, Social Data Shows

Traders are becoming more confident about approval prospects as public interest in two leading companies renews.

Shaurya Malwa | Edited by Parikshit Mishra Updated May 2, 2025 5:45 PM Published May 2, 2025 7:21 AM

What you need to know:

• Optimism for Dogecoin and XRP ETFs is growing as public sentiment favors both tokens.
• The probability of XRP spot ETF approval by 2025 has increased to 85% despite delays from the SEC.
• Dogecoin's social impact has increased significantly thanks to 21Shares ETF filings and interest from institutional investors.

Optimism for dogecoin (DOGE) and an XRP-based ETF is rapidly growing as public sentiment becomes more positive towards both tokens, a report from Santiment published on Thursday shows.

Social commentary analysis can be used in conjunction with technical tools in trading strategies, as positive comments tend to drive prices higher, while negative comments can lead to bearish trades.

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Discussions around XRP have become more bullish despite the overall decline in social conversations compared to other major cryptocurrencies. Perceptions of the likelihood of an XRP spot ETF being approved by the end of 2025 have increased to 85% from 65% just two months ago, according to Polymarket data.

This increase in confidence comes despite the SEC's recent decision to delay decisions on the DOGE and XRP spot ETF proposals until June 17. Technical analysis remains positive, showing strong accumulation patterns in the current market lull.

Public opinion on Dogecoin has changed dramatically since 21Shares and Bitwise filed for DOGE spot ETFs in April. DOGE had been in a long lull in public attention until late April, but its social influence has now reached a three-month high, as noted by Santiment.