Markets Data from Kaiko Indices exhibits XRP and SOL boast the deepest 1% market depth on vetted exchanges, with XRP surging previous SOL since late 2024 and doubling Cardano’s ADA in liquidity.
XRP and solana (SOL) are prime candidates for a spot ETF approval within the U.S., pushed by their excessive liquidity, with the Ripple-related token edging out amongst others for what might go dwell in the marketplace earlier, Kaiko analysts shared in a Monday report.
Data from Kaiko Indices exhibits XRP and SOL boast the deepest 1% market depth on vetted exchanges, with XRP surging previous SOL since late 2024 and doubling Cardano’s ADA in liquidity.
Unlike bitcoin, which secured spot ETF approval after Grayscale’s authorized victory highlighted the SEC’s inconsistent stance on futures and spot markets, XRP operates in a different way. It lacks a strong futures market, and its buying and selling quantity is essentially offshore.
However, XRP’s U.S. spot market share has climbed to its highest for the reason that SEC’s 2021 lawsuit triggered delistings, whereas SOL’s U.S. share has slipped to 16% from a 2022 peak of 25–30%.
XRP’s momentum is additional bolstered by the current launch of a 2x XRP ETF by Teucrium, which tracks European ETPs and swap agreements to ship twice XRP’s every day returns. It racked over $5 million in volumes on debut day, as reported, turn out to be the supplier’s “most successful launch.”
“This underlying market’s improving dynamics and the launch of a 2x XRP ETF last week position XRP ahead of other assets when it comes to approval,” Kaiko analysts wrote. “Although some tokens, such as LTC, which have very similar consensus mechanisms to BTC and share similarities to commodities, could also have a clear path to approval.”
However, regardless of XRP’s robust fundamentals, Deribit’s choices market displays warning, with a bearish skew within the implied volatility smile for April 18 expirations, signaling demand for draw back safety.
The SEC has acknowledged a number of XRP spot ETF purposes, with Grayscale’s submitting dealing with a important May 22 deadline.
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data Read More