Recent data indicates that XRP is regaining its position in the market. This article reviews its performance compared to SOL and the factors contributing to its growth.
Changes in XRP's Realized Capitalization
According to Glassnode, XRP is once again outpacing SOL in terms of 30-day realized capital changes, with a +4.2% change for XRP compared to just +1% for SOL. This suggests faster capital rotation toward XRP, indicating stronger short-term conviction in the market.
Reasons for XRP's Improving Position
A primary factor supporting XRP's improved standing is renewed hope for the approval of spot Ripple ETFs. The recent SEC approval of a Nasdaq cryptocurrency price index, which included Ripple's token, has led analysts to believe that the door for an XRP ETF in the US is now more open. Current data indicates an 89% chance of such a product being approved this year.
Future of XRP in the Market
Experts note that XRP is likely to maintain strong positions due to capital chasing regulatory clarity and event-driven hype, while SOL faces challenges from recent drawdowns and meme rotation fatigue. This could further bolster XRP's standing in the market.
Thus, XRP shows robust performance amidst increasing interest in its innovations and resilient capital. Expectations surrounding ETF approval create a foundation for positive changes in the future.
