Ripple XRP and Solana SOL are two of the top surging cryptocurrencies on the current market. As 2023 comes to a close, the market has become bullish, and investors are curious whether XRP or Solana will lead the pack.
At press time, Solana’s SOL token is trading at $76.55, while Ripple’s XRP sits at $0.625, according to CoinMarketCap. In price, XRP sits far, far behind SOL, but Ripple XRP is ahead of Solana in market cap by $3 billion. SOL is creeping up in market cap, however, and that gap may close more as 2023 comes to an end.
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Will Solana SOL or Ripple XRP Have a Higher Market Cap
In the last 24 hours, Solana has led the pack in a surge, registering double-digit growth and rising 10%. It now sits fifth on the list of crypto market caps behind XRP.
Analyzing the daily chart for SOL, its Chaikin Money Flow (CMF) registered a promising uptick, increasing the chances of a continued rise. However, its price had touched the upper limit of the Bollinger bands, while its MACD displayed a bearish crossover. Solana’s Relative Strength Index (RSI) also saw a downtick. Therefore, the token’s price may see restrictions making it difficult to surge any further.
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On the other hand, XRP’s Price Volatility per day plummeted in the last few days. Its network activity also sank, meaning that fewer new addresses were created to transfer the token. Ripple’s native token took a backseat to the recent surge to SOL, showing that a flip between the two coins on the market cap rankings is possible.
If SOL manages to sustain its bull rally, the possibility of it taking over XRP is likely, as their difference in market cap is only $3 billion.