XRP Gains Edge in ETF Race Over SOL and DOGE, Says Kaiko

• XRP leads the ETF race with 10 filings, strong U.S. exchange volume, and top-tier liquidity, outpacing SOL and DOGE in institutional readiness.

• With legal clarity and rising adoption, XRP is gaining serious momentum as the most likely next altcoin ETF to be approved.

After the successful rollout of spot Bitcoin and Ethereum ETFs in the U.S., crypto watchers are eagerly asking: which altcoin is next? According to the last XRP ETF Race Heats Up, CNF previously reported that Franklin Templeton filed with the SEC.

According to data and insights from Kaiko, a leading crypto market research firm, XRP appears to be ahead of the pack—and possibly closer to ETF approval than other contenders like Solana (SOL), Dogecoin (DOGE), or Litecoin (LTC).

Kaiko’s recent analysis reveals that XRP has ten active ETF filings—more than double that of Solana, which currently has five, and significantly ahead of Dogecoin and Litecoin, which each have three. This wave of institutional interest places XRP squarely in the spotlight. Specifically, Kaiko addressed XRP with:

XRP is quite different; it doesn’t have an active futures market—for now—and its volume is heavily concentrated offshore. However, its share of spot volume on U.S. exchanges recently climbed to its highest level since before the SEC’s 2021 lawsuit prompted widespread delistings.

Strong Liquidity and Market Depth Give XRP an Advantage

According to the report, a key metric working in XRP’s favor is its “1% market depth”—a measure of how much liquidity exists within 1% of the current price.

Among major altcoins, XRP leads in this category on centralized exchanges. High liquidity not only reassures regulators but also ensures smoother ETF operations, reducing price volatility due to large inflows or outflows.

Kaiko also noted that by the end of 2024, XRP’s overall market strength outperformed Solana and even doubled Cardano’s performance—another sign that the asset is maturing quickly in the eyes of institutions.

XRP Price Snapshot

Overall, XRP is holding strong gains for April. Its performance continues to reflect growing investor confidence as ETF approval looks increasingly within reach—especially compared to Solana and Dogecoin.

Following this, as CNF recently updated, REX Shares’ filings for XRP, Solana, and Dogecoin ETFs signal a bold step in expanding crypto investment options.

As of now, XRP is trading at $2.07 USD, reflecting a 3.70% drop over the past day and an increase of 15.16% over the past week. With institutional support rising and legal uncertainties behind it, XRP might just be the next breakout ETF success story line throughout the years. See XRP price chart below:

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