XRP and Solana Positioned for U.S. Spot ETF Approval, Analysts Report

XRP and SOL are leading candidates for spot ETF approval in the U.S. due to high liquidity. Analysts from Kaiko report:

• XRP has surpassed SOL in market depth since late 2024, doubling Cardano’s ADA in liquidity.
• XRP's U.S. spot market share is at its highest post-SEC lawsuit, while SOL's share has declined to 16% from a peak of 25-30% in 2022.
• A 2x XRP ETF launched by Teucrium achieved over $5 million in volumes on its debut, marking it as the provider’s most successful launch.
• The SEC has acknowledged multiple XRP spot ETF applications, with a significant deadline for Grayscale’s filing on May 22.

Despite strong fundamentals, Deribit’s options market indicates caution with a bearish skew for April 18 expirations, suggesting demand for downside protection.