Will Ripple's (XRP) Price Growth Outpace Solana's (SOL) in 2024?

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Solana (SOL) recently surpassed Ripple (XRP) to become the 5th largest cryptocurrency by market cap. HKVAC (Hong Kong Virtual Assets Consortium), acknowledged this change by replacing Ripple (XRP) with Solana (SOL) in its Top 5 Global Large Cryptocurrency Index.

Despite this, both Solana (SOL) and Ripple (XRP) have faced declines in the bearish market, with Solana (SOL) falling below $100 and Ripple (XRP) dropping below $0.6. The question now is whether Ripple (XRP) can outperform Solana (SOL) in 2024, considering the latter’s recent advancements and increasing market presence.

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Ripple (XRP): Navigating Market Fluctuations and Legal Landscapes

Ripple (XRP) has experienced fluctuating price levels recently, with some analysts predicting a positive trend. Despite episodic price jumps, Ripple (XRP) has not had a strong start to the year, trading around $0.58, significantly lower than its peaks of over $0.80 last summer. But despite Ripple’s (XRP) sluggish performance early this year, some expert analysts hold a bullish view on its potential rebound.

The current price range for Ripple (XRP) is between $0.563 and $0.683. The 10-Day Moving Average is at $0.576, while the 100-Day Moving Average stands at $0.597. Ripple (XRP) has support levels at $0.391 and $0.511, with resistance levels at $0.752 and $0.872.

Analysts predict that Ripple (XRP) could see a "massive breakout" in the coming months, with potential for significant value increase. Factors such as Ripple (XRP) legal developments and broader market conditions are expected to influence its performance.

Solana (SOL): Embracing Technological Advancements and Market Opportunities

Solana’s (SOL) developers are looking forward to several advancements in 2024, including token extensions and Firedancer, a significant upgrade to the Solana (SOL) validator client. With Firedancer and token extensions on the horizon, plus strong backing from institutions, Solana (SOL) gearing up for a performance boost that could really draw in a wider crowd.

The current price range for Solana (SOL) is between $64.84 and $132.36. The 10-Day Moving Average is $96.02, and the 100-Day Moving Average is $63.48. Solana (SOL) has a support level at $27.97 and resistance levels at $163.01 and $230.54.

Anticipation is building that Solana (SOL) upcoming tech upgrades might draw a bigger crowd to the platform, potentially giving its value a nice lift. The average of 40.7 million daily user transactions in Q4 2023 indicates a vibrant ecosystem that could grow further with these updates.

Conclusion

In the dynamic 2024 crypto market, Solana (SOL) and Ripple (XRP) are key players with distinct trajectories. Both face the inherent volatility of the crypto market and external economic influences. 

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.