XRP (XRP-USD) is muscling to the front of the ETF race—and it’s doing it with liquidity, not hype. While others jostle for headlines, XRP’s deep order books and rising U.S. footprint are doing the talking.
XRP Tops Liquidity Charts and Market Depth
Crypto research firm Kaiko’s latest data shows that XRP and SOL have the deepest 1% market depth on vetted exchanges. But here’s where XRP takes the lead. Since late 2024, it’s pulled ahead of Solana and now boasts double the liquidity of Cardano’s ADA. That’s a massive tailwind in a market where ETF readiness depends heavily on market quality and depth.
Even more impressive? XRP has clawed back its U.S. market share after the SEC’s 2021 lawsuit, which triggered widespread delistings. It now holds its strongest domestic footing in years. Meanwhile, Solana has slipped, with its U.S. share dropping from a 25–30% peak to just 16%.
Teucrium’s 2x XRP ETF Starts the Engine for ETF Hopes
Then came Teucrium’s leveraged 2x XRP ETF. It launched last week, pulling in over $5 million on its debut—making it the issuer’s “most successful launch” ever, according to Kaiko. The ETF tracks European ETPs and swap agreements to deliver double XRP’s daily return. It’s not a spot ETF. But its popularity signals major investor appetite for XRP-based products.
As Kaiko analysts put it, “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.”
Options Market Stays Cautious ahead of SEC Decision
Still, not everyone’s all-in. Deribit’s options data shows traders buying downside protection—bearish sentiment remains for April 18 expiries. That said, the SEC has already acknowledged multiple XRP spot ETF filings, including one from Grayscale that hits a key deadline on May 22.
At the time of writing, XRP is sitting at $2.17.
