XRP and Solana See Increased Institutional Demand Amid Market Volatility
Crypto market volatility is increasing amid geopolitical tensions, particularly following military actions in the Middle East. Major cryptocurrencies like Bitcoin experienced dips, while tokens such as XRP and Solana are attracting institutional interest.
- XRP trading around $2.10 is seeing significant corporate buying pressure, totaling over $470 million from firms including Webus International ($300 million), VivoPower ($121 million), and Wellgistics ($50 million).
- Analysts highlight that the growing corporate adoption of XRP indicates its appeal for low-cost and high-speed payments. Predictions suggest a potential rise to $5 by mid-2025, contingent on legal clarity and ETF speculation.
- Solana has reached approximately $165, driven by strong network fundamentals and ETF demand. The token's Q1 application revenue surpassed $1.2 billion, with futures market open interest rising.
- Predictions for Solana indicate a possible rally to $200–$250, with potential upside beyond $300.
- DeFi Development Corporation plans to raise up to $5 billion to enhance its Solana treasury, having previously retracted a Form S-3 with the SEC aimed at acquiring SOL.