XRP’s Market Cap Throne at Risk As Solana (SOL) Near to Become the Fifth-largest Cryptocurrency

The post XRP’s Market Cap Throne at Risk As Solana (SOL) Near to Become the Fifth-largest Cryptocurrency appeared first on Coinpedia Fintech News

Solana, a formidable competitor to Ethereum’s Layer-1, has once again witnessed a remarkable comeback. At present, Solana (SOL) is making noteworthy strides, giving serious competition to XRP in terms of market capitalization. 

As of now, the Solana (SOL) price has surged by 8.70%, reaching $78.74, accompanied by a market cap of $32.5 billion. It closely trails XRP, which currently stands at $34.20 billion.

Solana Mobile’s Saga Phones Hit a High

The recent Surge in Solana price can be attributed to Solana Mobile’s announcement that the company has sold out of its Saga phones in the United States.

Wow, what a day

We've officially SOLD OUT of Saga phones in the US! A huge thanks to everyone who's been part of this journey

To our frens in Europe, we've still got a few left for you.

Stay tuned for what's next

— Solana Mobile (@solanamobile) December 15, 2023

While Solana Mobile’s Saga phones are sold out in the US, it offers reassurances to its European audience that there will still be some units available. As a result of this success, Solana Mobile has demonstrated strong demand and positive response from its users.

BONK’s Remarkable Flip Overtaking EOS

The meme coin BONK, residing on the Solana blockchain, has achieved a milestone by flipping EOS in market capitalization. This significant accomplishment is causing ripples in the crypto community, drawing considerable attention.

Adding to the intrigue, BONK has secured listings on the major crypto exchange, Binance with a Seed Tag. This move not only enhances BONK’s visibility but also signifies a growing adoption of this meme coin in mainstream crypto circles. 

BONK’s success highlights the dynamic nature of the crypto market and showcases the untapped potential within the Solana ecosystem

XRP’s Tenacity Amid Rising Competition

XRP demonstrates remarkable resilience in the face of intensifying competition. Recently surpassing Binance Coin (BNB) in market capitalization reaching approximately $36.09 billion, XRP briefly claimed the spotlight. 

This achievement underscores XRP’s enduring presence, often overshadowed by larger players like Bitcoin and Ethereum. The unique legal status of XRP in the U.S. as a non-security further sets it apart, providing a competitive edge amid regulatory challenges faced by other tokens.

SOL’s Unstoppable Rally

Meanwhile, Solana (SOL) continues its mega rally, boasting nearly a 300% gain in the past two months. Breaking the crucial resistance level of $75, SOL aims higher, with $78.75 as the next hurdle. A successful breach could trigger a substantial upswing, with the $80 resistance marking a pivotal point. 

Should this happen, Solana might flippen XRP as the fifth-largest cryptocurrency by market capitalization, further intensifying the crypto standoff.