Solana Losing U.S. Market Share: Could This Pump Chances of XRP ETF Approval?

• Solana’s US market share drops to 16%, down from the 25-30% range in 2022.
• XRP’s share of US trading volume reaches its highest level since the SEC lawsuit.
• Changing market situations could influence pending ETF application decisions.

The situation regarding cryptocurrency ETF approvals in the United States appears to be shifting, as XRP may gain an advantage while Solana experiences a decline in its presence in the U.S. market. According to data from Kaiko Research, XRP’s share of spot trading volume on U.S. exchanges has risen to its highest level since before the SEC’s 2021 lawsuit, which had led to widespread delistings of the token.

This recovery in the U.S. market activity comes at a critical time as incoming SEC Chair Paul Atkins prepares to take office following his Senate confirmation last week. Atkins, a former Commissioner, faces several deadlines for crypto-related ETF applications that could push digital asset decisions to the forefront of his agenda.

XRP Edges Over Solana in the US Market

Meanwhile, Solana has witnessed a steady decline in its U.S. market share, falling to 16%, a significant drop from the 25-30% range it maintained through…

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