Kaiko analysts said in a Monday report that Ripple-affiliated cryptocurrency XRP is ahead of other alternative cryptocurrencies like Solana (SOL) and Dogecoin (DOGE) when it comes to spot exchange-traded fund (ETF) approval by the U.S. Securities and Exch

Kaiko analysts said in a Monday report that Ripple-affiliated cryptocurrency XRP is ahead of other alternative cryptocurrencies like Solana (SOL) and Dogecoin (DOGE) when it comes to spot exchange-traded fund (ETF) approval by the U.S. Securities and Exchange Commission.

Kaiko analysts said in a Monday report that Ripple-affiliated cryptocurrency XRP is ahead of other alternative cryptocurrencies like Solana (SOL) and Dogecoin (DOGE) when it comes to spot exchange-traded fund (ETF) approval by the U.S. Securities and Exchange Commission.

This comes as the crypto market saw a relief rally due to U.S. President Donald Trump’s announcement of tariff exemptions for a slew of tech products.

An industry pundit is optimistic that the XRP price could hit $10 in 2025. This prediction is based on an Elliott Wave Theory analysis of the token’s weekly time frame chart.

XRP Leading Candidate For US Spot ETF Approval

Analysts at crypto research platform Kaiko have argued that spot exchange-traded funds based on XRP could edge out others to go live first in the U.S.

Unlike Bitcoin (BTC), which got the regulatory green light after Grayscale’s legal win accentuated the Securities and Exchange Commission’s conflicting view on futures and spot markets, XRP operates uniquely. It currently does not have a strong futures market, and its trading volume is primarily offshore.

Nonetheless, XRP’s U.S. spot market share has surged to its highest since the agency’s lawsuit launched in late 2020 sparked delistings. Meanwhile, SOL’s U.S. share has slumped from a 2022 high of 25–30% to 16%.

XRP currently has the highest average altcoin 1% market depth on leading digital asset exchanges, suggesting huge amounts of buy and sell orders close to the current market price. This contributes to a stable market environment with lower slippage and gives the asset superior liquidity.

“A highly liquid spot market is important for creating efficient structured products, and the former SEC leadership was highly sensitive to this, the Kaiko report reads.

XRP’s momentum is further buoyed by Teucrium’s recent introduction of a 2x leveraged XRP ETF, which tracks European ETPs and swaps agreements to deliver twice XRP’s daily returns. The XXRP ETF drew in “very respectable” trading volumes on debut day, as ZyCrypto reported, despite the tumult in crypto and other global markets.

“This underlying market’s improving dynamics and the launch of a 2x XRP ETF last week position XRP ahead of other assets when it comes to approval,” the analysts explained. “Although some tokens, such as LTC, which have very similar consensus mechanisms to BTC and share similarities to commodities, could also have a clear path to approval.”

In expectation of pro-crypto Trump’s pick Paul Atkins officially assuming the role of SEC chair left vacant by crypto enemy Gary Gensler, a handful of investment managers, including Grayscale, Bitwise, Fidelity, and Franklin Templeton, have submitted paperwork to the regulatory agency for altcoin ETFs in recent months following the approval of Bitcoin and Ether ETFs in early 2024.

According to Kaiko, XRP leads the active ETF filings, with 10 pending applications, followed by five for a SOL ETF and three each for Litecoin (LTC) and DOGE.

Can XRP Hit $10 In 2025?

XRP’s recent rebound has prompted a widely followed analyst by the name Maelius to predict a $10 price target for the Ripple-related token based on the Elliott Wave Theory on the weekly time frame chart.

“Conservative case assumes XRP has completed its W3, currently in the process of finalizing W4, before expanding to a final W5,” Maelius said in an April 15 X post.

The crypto strategist pointed out that the price action and RSI were echoing the 2017 cycle, with the RSI topping out in the resistance area, indicating overbought conditions.

Should the current market cycle repeat itself, Maelius believes XRP could smash a W5 target of approximately $10 by the end of 2025. “Conservative assumption is for a magnitude of W5 to replicate the one of W3, thus targeting $10.”

The analyst further believes there’s a chance that the W3 top is not in just yet because of a larger accumulation period compared to the 2017 cycle in terms of both price and the RSI.

“In such a case, the final W5 top could easily get prolonged to Q1-2 of 2026, with higher targets than in the conservative case, i.e., likely in the range of $15-$20 or even higher,” Maelius concluded.

XRP price is up 1% on the day, trading hands around the $2.14 level, according to crypto data provider CoinGecko.