$BTC XRP and Solana (SOL) are the main candidates for the approval of the US spot ETF due to their high liquidity. Ripple-related tokens have stood out among other tokens, as shared by Kaiko analysts in a report on Monday.

Data from the Kaiko index indicates that XRP and SOL have the deepest 1% market depth on audited exchanges. Since the end of 2024, XRP has surpassed SOL and is twice as liquid as Cardano's ADA.

Unlike Bitcoin, which received spot ETF approval after Grayscale's legal victory, highlighting the SEC's inconsistent stance on futures and spot markets, XRP has performed differently. It lacks a strong futures market and its trading volume is primarily conducted offshore.

However, XRP's spot trading in the US...