The cryptocurrency market is witnessing positive trends for XRP and Solana. Expectations for ETF approval and increasing institutional investments could drive their upward momentum.
XRP Poised for a Historic Rally
XRP is beginning to show signs reminiscent of its legendary 2017 surge. Over the past year, it has risen by an impressive 374.1%, outperforming Bitcoin and Ethereum. During the first two quarters of this year, it climbed 0.45% and 7.12%, respectively. Analyst DonAlt emphasizes that XRP’s price has been trapped in the $2.17–$2.29 range, resembling the low-volume yet resilient base seen just before the 2017 explosion. If this pattern breaks upwards, the previous peak recorded at $3.84 will merely be the initial target.
Institutional Demand Bolsters Solana
Since March, Solana has been trading below its 50-week moving average, marking a nearly 3.2% drop to $152.83. Analysts indicate that the prevailing bearish scenario will be invalidated only if the price closes above $189. Nevertheless, institutional appetite for SOL coins continues to rise. DeFi Development has purchased 17,760 SOL, increasing its balance to 640,585 SOL (approximately $98 million). This raises hopes for further price growth.
Market Prospects and Expectations
The most significant catalyst that could ignite the rally is the anticipation of a spot XRP ETF approval. The market is pricing a 95% chance of SEC approval for an XRP ETF by year’s end. Ripple’s decision to drop its cross-appeal in the SEC lawsuit reduces regulatory uncertainty, strengthening expectations in this area. With the increasing institutional interest in Solana, the price is expected to overcome technical barriers and reach new heights.
Given the signs of growth for XRP and Solana, alongside the anticipated ETF approval, significant changes in the cryptocurrency market can be expected in the coming months.
