XRP and Solana (SOL) emerge as the frontrunners for U.S. spot ETF approval, driven by their high liquidity, particularly with XRP gaining momentum since late 2024. Notably, XRP's market share in the U.S. has climbed steadily, reaching its highest since the SEC's 2021 lawsuit. Recent data indicates that XRP has surpassed SOL in market depth and has significantly elevated its liquidity compared to Cardano's ADA. In support of its strong position, a new 2x XRP ETF launched by Teucrium achieved over $5 million in trading volume on its first day, marking it as the provider's most successful launch. While XRP is well-positioned for early approval compared to SOL, caution persists in the options market, reflecting a bearish sentiment among traders. The SEC has acknowledged several XRP spot ETF applications, with a critical deadline for Grayscale’s filing coming up on May 22.

Source 🔗