XRP Outpaces Solana in Trading Volume: How Does This Impact Approval?

Recent analyses reveal that the 2x leveraged XRP fund has significantly outpaced Solana futures products in trading volume. This increased activity is raising eyebrows because a majority of XRP trading occurs outside the US, suggesting a potential roadblock for SEC approval. Additionally, the recent surge in spot XRP trading on US exchanges and successful launch of the 2x leveraged product could positively influence the likelihood of approval. The upcoming May 22 deadline for the SEC’s response to Grayscale’s spot XRP application is another crucial factor being closely monitored by investors.