Recent events in the Middle East have negatively impacted the cryptocurrency market, leading to declines in Bitcoin and other altcoins. However, some specialists note a rise in interest towards XRP and Solana.
Cryptocurrency Market and Global Conflicts
Cryptocurrency markets have sharply declined amid renewed military activity in the Middle East. Israeli airstrikes on Iran have triggered widespread risk aversion among investors. Bitcoin fell to $103,000 but then recovered to $104,600. Ethereum and other altcoins also suffered, with ETH down 8.8% in the last 24 hours, XRP down 5%, and Solana down 9%.
Analysis of XRP and Interest in Solana
Despite the declines, analysts assert that XRP and Solana continue to attract interest from institutional investors. Ryan Lee, Chief Analyst at Bitget Research, noted that XRP is drawing attention due to its increasing share in institutional treasuries. He mentioned that companies such as Webus International ($300 million) and VivoPower ($121 million) are creating XRP buying pressure approaching $1 billion. He added that regulatory clarity and ETF speculation could push XRP to $5 by mid-2025.
Outlook for Cryptocurrencies in Uncertain Times
Ryan Lee also expressed optimism about Solana, which continues to benefit from solid network fundamentals and ETF demand. According to him, Solana rose to around $165, driven by over $1.2 billion in Q1 execution revenue and increased open interest in futures markets. If the current momentum holds, the SOL price could rise to the $200-250 range or even exceed $300.
Geopolitical events such as conflicts in the Middle East have a significant impact on the cryptocurrency market. Nonetheless, XRP and Solana may continue to attract interest from institutional investors based on expert forecasts, which may lead to their growth in the future.
