XRP surpasses Solana in current trading, with future release approaching

Following the SEC's decision to drop its lawsuit against Ripple Labs, XRP's value increased by 13%, possibly indicating a positive outlook for future ETF approvals and an upsurge in market activity.

In the realm of spot trading, XRP (XRP), a product of Ripple Labs, has recently surpassed Solana (SOL) in volume, frequently accounting for over 50% of the total volume. This marks a significant change from the time when Solana commanded 70-80% of the market share.

With the legal dispute no longer looming over XRP, the likelihood of an ETF approval in 2025 has improved on prediction markets, according to analysts at Kaiko, a blockchain analytics firm.

Based on data from prediction market Polymarket, the odds of a spot Ripple ETF approval in 2025 increased by 6% after the SEC's case was dropped, with the market currently pricing in an 83% probability that spot XRP ETFs will receive approval by the end of 2025.

"The recent surge in XRP market activity does not seem to be an isolated incident. Higher trading volumes have been accompanied by enhanced liquidity for XRP, as the average 1% market depth has consistently risen, now surpassing that of SOL."

Kaiko

With the regulatory hurdle now eliminated, Kaiko anticipates that the market may witness product launches for XRP "in the coming months." For instance, in January, the CME accidentally released a sample webpage for SOL and XRP futures. One of these products has now been launched, while the second has been "released from its regulatory purgatory," according to the firm.

Brad Garlinghouse, CEO of Ripple, suggested earlier in March that XRP ETFs could make their debut in the U.S. market by the second half of 2025. At present, there are at least ten applications for XRP ETFs - including spot, leveraged, and inverse products - awaiting SEC approval. Among the applicants is Franklin Templeton, who recently joined the list.