Bitcoin continued to be among the most dominant cryptocurrencies in 2024. It rose above the ATH level of $100,000, fuelled by post-US election optimism. While Bitcoin remains at the centre of market debate, a few altcoins are worth watching. Cryptocurrency expert Paul G takes a closer look at these contenders backed by strong fundamentals.
XRP coin tops the cryptocurrency list!
The Ripple-affiliated token has managed to break out of its prolonged consolidation phase below $1. In fact, it was a standout performer in the year-end cryptocurrency rally. Heading into 2025, XRP is well positioned for potential dominance, supported by regulatory developments, particularly the ongoing Ripple and SEC litigation.
With the upcoming Donald Trump administration, the market expects more crypto-friendly regulations. Trump has already nominated Paul Atkins, a cryptocurrency advocate, for SEC Chair. If approved, there is an expectation that Atkins may push for the dismissal of the Ripple case or support a compromise. The resolution of this legal battle is expected to revitalise investor interest in XRP, which has been significantly affected by protracted litigation.
The new SEC administration is also likely to approve a spot XRP exchange-traded fund (ETF). This will also attract the interest of institutional investors. Meanwhile, as you follow from Kriptokoin.com, Ripple has launched a stablecoin. This further enhances XRP’s value proposition beyond speculative trading. At the time of writing, XRP was trading at $2.17, up nearly 240% in the last 24 hours. Technical indicators suggest significant potential for price appreciation. Also, some analysts predict a high of $5 for XRP.
Ethereum rival Solana (SOL) comes in second place!
Solana (SOL) is also positioned for potential dominance in 2025, driven by various fundamental factors. The launch of Solana-based ETFs in 2025 could attract institutional investment, which has historically catalysed price growth. The platform is versatile and appeals to individual investors. This is evident in the rise of Solana-based meme coins. This increase demonstrates Solana’s growing influence and ability to attract diverse market participants.
In particular, Solana’s developer ecosystem grew significantly in 2024. Thus, it surpassed Ethereum for the first time since 2016. According to Electric Capital, Solana experienced a year-over-year increase of 83 per cent, with 7,625 new developers joining the network, compared to Ethereum’s 6,456. This growth has led to an increase in projects. Solana has also outpaced Ethereum at times in daily network activity, including memecoin activity in March and daily fee generation in October. Therefore, if the Solana network avoids extensive outages in 2025, it will likely see more investor interest. At the time of writing, the cryptocurrency was trading at $190, down 3.66% on the daily chart. However, over the past year, the asset has risen by 78%.
The opinions and forecasts in the article are those of the expert and are not investment advice. As Kriptokoin.com, we strongly recommend that you do your own research before investing.
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