XRP News Today: XRP's 30-Day Realized Cap Surges 4.2%, Outpacing Solana's 1% Gain

Ripple’s cross-border token, XRP, has been experiencing a resurgence in momentum, with capital rapidly rotating into the cryptocurrency. This shift is evident in the 30-day realized capitalization (realized cap) of XRP, which has increased by 4.2%, outpacing Solana's modest 1% gain. This metric indicates that investors are pouring more money into XRP at higher prices, suggesting a renewed confidence in Ripple's token over the past month.

XRP's recent performance has been marked by a consolidation phase within a tight range between $2.1 and $2.4, with a few brief and unsuccessful breakout attempts in both directions. However, the latest data from Glassnode shows that XRP is once again leading in terms of capital rotation compared to Solana (SOL). This could trigger a substantial shift in the narrative around the asset and potentially impact its price movements.

The analytics platform’s graph shows that XRP dominated SOL in terms of 30D Realized Cap changes until the end of March. At the beginning of that month, Ripple’s token briefly surpassed $3, and even though it corrected slightly in the following weeks, it still stood above $2.6-7 for the most part. However, the trade war escalation caused XRP’s price to tumble, alongside Glassnode’s metric. The situation changed briefly in early May as XRP was recovering from a plunge to $1.6 and returned above $2. SOL performed better in the following month, but XRP has regained its lead in the past few days.

Consequently, Glassnode determined that this growing capital rotation into XRP hints at “stronger short-term conviction.” The primary narrative supporting XRP’s improving position is the renewed hope for spot Ripple ETF approvals. Most recently, the SEC greenlighted a Nasdaq crypto US settlement price index, which included Ripple’s token. Many analysts believe this opened the door even more for an XRP ETF in the States. Polymarket’s current data shows a 89% chance for such a product to be approved in the US this year. Although SOL’s percentage is quite high as well, other experts noted that Ripple continues to expand its DeFi ecosystem, including the recent introduction of USDC on XRPL, which could further enhance its position.

Additionally, some noted that XRP is holding better because capital “chases regulatory clarity and event-driven hype, while SOL’s bounce potential is hampered by recent drawdowns and meme rotation fatigue.” The surge in XRP's realized cap can be attributed to several factors. Ripple's ongoing legal battle with the Securities and Exchange Commission (SEC) has seen some promising developments, with the appeal moving forward. Each regulatory win has drawn the attention of institutions, potentially leading to increased investment. Additionally, there is speculation about a potential XRP spot ETF, following the clearance of Bitcoin and Ethereum. The XRP Ledger itself is also undergoing upgrades, including faster transactions and better DeFi integration, which could attract more developers and capital.

On the other hand, Solana, while still vibrant with its ecosystem of NFTs and DeFi projects, is not experiencing the same level of capital inflow as XRP. Solana's network has faced some hiccups, and broader market caution has led to some profit-taking. However, upcoming protocol upgrades and any news of an SOL ETF could reignite interest in Solana. Looking ahead, the focus will be on Ripple's court filings later this month. A favorable outcome could further boost XRP's price. For Solana, any developments in protocol upgrades or ETF approvals could change the dynamics. For now, the realized cap change is a key indicator, and the current trend suggests that XRP has the short-term edge in terms of investor sentiment and capital inflow.