According to analytics firm Kaiko, XRP is positioned to be the next altcoin to get its own exchange-traded fund (ETF) in the U.S.

The firm has noted that XRP and SOL stand out as the most likely candidates to get such a product.

At first glance, it might seem like SOL has an edge over the Ripple-affiliated token. 

As reported by U.Today, mutual fund behemoth Fidelity officially joined the Solana ETF race last year. Furthermore, CME rolled out regulated SOL futures throughout the month, which was deemed to be a major milestone for the altcoin. 

However, according to Kaiko, XRP might have the upper hand due to its soaring market depth, which has now surpassed that of SOL.

Following the massive rally that took place in the fourth quarter of 2024, the token's spot volume has now increased dramatically. 

Moreover, the first leveraged XRP ETF successfully launched in the U.S. in April. The product had a better-than-anticipated debut, showing that there is demand for the Ripple-affiliated token.   

According to Polymarket bettors, the odds of a spot-based XRP ETF being approved in the U.S. currently stand at 73%. This represents a substantial decline compared to the March 27 peak of 87%.