Bitcoin has continued to dominate the cryptocurrency market throughout 2024. It has reached an all-time high above $100,000 amid rising optimism following the US elections. While Bitcoin continues to dominate market discussions, several altcoins have also made notable performances. Crypto expert Paul G takes a closer look at these competitors with strong fundamentals.
XRP Coin Tops Crypto List!
XRP, which belongs to Ripple, managed to break out of this level after consolidating below $ 1 for a long time and showed a remarkable performance in the crypto rally at the end of the year. As we enter 2025, XRP has significant potential, especially supported by regulatory developments such as the ongoing Ripple and SEC lawsuit.
With the approaching Donald Trump administration, the market is expecting more crypto-friendly regulations. Trump has nominated Paul Atkins, a crypto advocate, to be SEC Chairman. If confirmed, Atkins is expected to push for a settlement or dismissal of the Ripple lawsuit. The resolution of this legal battle could rekindle interest in XRP, which has long lost investor interest. Additionally, the new SEC administration could approve a spot XRP exchange-traded fund (ETF), which would also attract the attention of institutional investors. Ripple has also launched a stablecoin, which would expand XRP’s value proposition beyond mere speculative trading. At the time of writing, XRP was trading at $2.17 and had gained nearly 240% in the past 24 hours. Technical indicators point to a major potential price rally for XRP, with some analysts predicting it could rise to $5.
Solana (SOL): Impressive as Ethereum’s Competitor!
Solana (SOL) aims to make a strong entry into 2025 under the influence of fundamental factors. The launch of Solana-based ETFs in 2025 could attract institutional investors and trigger a price increase. Solana appeals to individual investors with its versatile structure. The most obvious example of this is seen with the rise of Solana-based meme coins. This increase shows that Solana is increasing its influence and attracting more market participants.
Solana’s developer ecosystem, in particular, saw significant growth in 2024. Thus, it surpassed Ethereum for the first time since 2016. According to a report by Electric Capital, Solana saw an 83% increase in a year, hosting 7,625 new developers. This led to an increase in projects on the platform. In addition, Solana managed to occasionally outpace Ethereum in memecoin activity in March and daily fee generation in October. If Solana can avoid network outages in 2025, it could attract more investor interest. At the time of writing, Solana was trading at $190, down 3.66%, but the asset has gained 78% in value over the past year.