$BTC the previous where US President Donald Trump indicated further tariff relief with the possibility of halting duties
Unlike Bitcoin, XRP lacks a developed futures market and is primarily traded overseas. However, its share of the US spot market has rebounded since the SEC lawsuit in 2021, while SOL's share has declined.
Momentum for XRP also gained after the launch of Teucrium’s 2x XRP ETF, which recorded over $5 million in trading volume on its first day - its most successful launch.
Kaiko analysts stated: "Improved fundamental market dynamics and the launch of the 2x XRP ETF last week puts XRP ahead compared to other assets when it comes to approval."
"Although some tokens, like LTC, which have very similar consensus mechanisms to BTC and share similarities with commodities, may also have a clear path to approval."
The SEC is set to issue a major decision on Grayscale's XRP ETF application on May 22.
Cryptocurrency prices today: Altcoins are mixed amid tariff tensions
Altcoins were mixed on Tuesday, with most moving in narrow ranges amid economic uncertainty.
The second-largest cryptocurrency globally, Ethereum, fell by 1% to $1,645.8900.
The third-largest cryptocurrency globally, XRP, rose by 1.7% to $2.1700.
