XRP News Today: XRP Eyes 35,000% Surge as Institutional Demand Boosts Solana

Ripple’s XRP is showing signs of a potential surge reminiscent of its 2017 rally. Meanwhile, Solana (SOL) is attempting to break free from the bear market, supported by increasing institutional investment. Analyst DonAlt highlights the striking similarity between XRP’s current consolidation structure and its formation eight years ago, suggesting a potential leap of 35,000% from its current price of $2.29. Simultaneously, Solana is holding steady at $152.83, with million-dollar acquisitions by DeFi Development and expectations for a spot ETF to balance sales pressure.

Over the past year, XRP has surged by an impressive 374.1%, outperforming Bitcoin and Ethereum. In the year’s first two quarters, it climbed 0.45% and 7.12%, respectively. DonAlt notes that XRP’s price has been trapped in the $2.17–$2.29 range, resembling the low-volume yet resilient base seen just before the 2017 explosion. According to the analyst, if this pattern breaks upwards, the previous peak recorded at $3.84 will merely be the initial target, with a more ambitious five-digit leap awaited.

The biggest catalyst that could ignite the rally is the anticipation of a spot XRP ETF approval. The SEC’s green light to convert the Grayscale Digital Large Cap Fund into an ETF paves the way for Bitwise and Franklin Templeton’s applications, with the market pricing a 95% chance of SEC approval for an XRP ETF by the year’s end. Ripple’s decision to drop its cross-appeal in the SEC lawsuit reduces regulatory uncertainty, strengthening expectations in this area.

Since March, Solana has been trading below its 50-week moving average, marking a nearly 3.2% drop to $152.83. The potential head-and-shoulder pattern on the chart and negative divergence in weekly RSI create a downward risk. Analysts indicate that the prevailing bearish scenario will be invalidated only if the price closes above $189.

Nevertheless, institutional appetite for SOL coins continues to rise daily. DeFi Development, listed on Nasdaq, has purchased 17,760 SOL, increasing their balance to 640,585 SOL (approximately $98 million). The SEC’s active review of spot Solana ETF applications has increased the number of firms considering Solana in treasury management. If institutional demand continues, the price is expected to overcome technical barriers and reach new peaks.