"XRP Surges 2% Amid Crypto Downturn; Solana Rallies 2.1% on Trump Hopes"

The crypto market has been volatile in recent weeks, with altcoins experiencing lower trading volumes compared to the previous month. This downturn follows a significant price drop that erased gains made in January, as market confidence waned. Despite the challenging conditions, XRP and Solana (SOL) have managed to hold their ground and even record gains in the past 48 hours, even as Bitcoin dipped below $98,000. At the time of writing, the total crypto market cap stands at $3.2 trillion, with a 1% gain today.

XRP has seen a surge in price, rising 2% after two weeks of decline. The asset's price stood at $2.47 over the weekend, a significant drop from its recent high above $3. However, many traders view this as a positive development, considering the previous lows experienced earlier this month. XRP's price has since increased to $2.54, with its market cap reclaiming $140 billion. Daily trading volumes have also rebounded by 36%, soaring above $5.4 billion. In the last seven days, XRP has recovered 5%, suggesting a potential upswing in the asset's price.

XRP has recently become the third-largest crypto asset by market cap, overtaking Tether. This shift in ranking comes as institutional investors back XRP, anticipating a positive U.S. regulatory environment under the Trump administration. The U.S. Securities and Exchange Commission filed a lawsuit against Ripple and two executives in 2020, which directly affected XRP's price. However, it is essential to note that U.S. regulatory factors are not the sole driver behind XRP's growth. Ripple's global partnerships have also contributed to the surge in institutional volume. On February 10, Ripple announced a partnership with crypto firm Unicambio to facilitate payments between Portugal and Brazil.

Solana, another institutional favorite, has also attempted a comeback in the last 24 hours, with its price increasing by 2.1%. The asset has gained 3% in the last seven days, trading at $196, far below its anticipated run above $350. Trump's inauguration has sparked positive sentiment around the asset, with a spike in DeFi numbers. Several crypto whales have bought the dip, accumulating SOL ahead of an anticipated upward rally. Institutional investors have also poured $