2 months ago
XRP and solana (SOL) are apical candidates for a spot ETF support successful the U.S., driven by their precocious liquidity, with the Ripple-related token edging retired among others for what could spell unrecorded connected the marketplace earlier, Kaiko analysts shared successful a Monday report.
Data from Kaiko Indices shows XRP and SOL boast the deepest 1% marketplace extent connected vetted exchanges, with XRP surging past SOL since precocious 2024 and doubling Cardano’s ADA successful liquidity.
Unlike bitcoin, which secured spot ETF support aft Grayscale’s ineligible triumph highlighted the SEC’s inconsistent stance connected futures and spot markets, XRP operates differently. It lacks a robust futures market, and its trading measurement is mostly offshore.
However, XRP’s U.S. spot marketplace stock has climbed to its highest since the SEC’s 2021 suit triggered delistings, portion SOL’s U.S. stock has slipped to 16% from a 2022 highest of 25–30%.
XRP’s momentum is further bolstered by the caller motorboat of a 2x XRP ETF by Teucrium, which tracks European ETPs and swap agreements to present doubly XRP’s regular returns. It racked implicit $5 cardinal successful volumes connected debut day, arsenic reported, go the provider’s “most palmy launch.”
“This underlying market's improving dynamics and the motorboat of a 2x XRP ETF past week presumption XRP up of different assets erstwhile it comes to approval,” Kaiko analysts wrote. “Although immoderate tokens, specified arsenic LTC, which person precise akin statement mechanisms to BTC and stock similarities to commodities, could besides person a wide way to approval.”
However, contempt XRP’s beardown fundamentals, Deribit’s options marketplace reflects caution, with a bearish skew successful the implied volatility grin for April 18 expirations, signaling request for downside protection.
The SEC has acknowledged respective XRP spot ETF applications, with Grayscale’s filing facing a captious May 22 deadline.
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