XRP vs SOL: Predicting the Top Market Cap Contender for 2023

• Market Trends of Ripple XRP and Solana SOL
• Comparative Market Caps of XRP and SOL
• Solana's Projected Market Performance
• Ripple XRP's Market Dynamics
• Potential of SOL Surpassing XRP

Market Trends of Ripple XRP and Solana SOL

Ripple XRP$0.620 -1.68% and Solana$104 5.03% SOL are two leading cryptocurrencies witnessing significant surge in the current market. With 2023 nearing its end, the market has turned bullish, prompting investors to speculate whether XRP or Solana will come out on top. According to CoinMarketCap, Solana's SOL token currently trades at $76.55, while Ripple's XRP is at $0.625.

Comparative Market Caps of XRP and SOL

Despite a lower price, Ripple XRP leads Solana in market cap by a margin of $3 billion. However, SOL is progressively increasing its market cap, hinting at a potential closing of this gap as we approach the end of 2023. In the most recent 24 hour cycle, Solana registered double-digit growth and rose by 10%, positioning itself fifth on the list of crypto market caps, just behind XRP.

Solana's Projected Market Performance

Data from the daily chart for SOL indicates a promising uptick in its Chaikin Money Flow$0.909 -1.61% (CMF), suggesting a potential for continued growth. However, it's noteworthy that the price has reached the upper limit of the Bollinger bands while the MACD has displayed a bearish crossover. With the Relative Strength Index (RSI) of Solana also showing a slight decline, the token may face challenges in further price surge.

Ripple XRP's Market Dynamics

Contrarily, the daily Price Volatility of XRP has seen a decrease in recent days. Similarly, its network activity had a downturn, meaning that fewer new addresses are being created for token transfer. This shows that Ripple's native token has been somewhat subdued in response to the recent surge of SOL, making a flip in market cap ranking between the two coins a possible outcome.

Potential of SOL Surpassing XRP

Should SOL maintain its bullish rally, the likelihood of it outpacing XRP becomes a plausible scenario, given the current difference in their market caps is merely $3 billion.

Edited by Jonathan Stoker