A popular crypto analyst has predicted a massive increase for Solana and XRP, foreseeing both cryptocurrencies reaching new all-time highs in 2024.
XRP and Solana 2024 Price Prediction
Prominent crypto influencer Ben Armstrong has recently published a new crypto price prediction for XRP, the native token of the Ripple network and Solana (SOL). Armstrong made his predictions live on his YouTube channel on December 31.
According to the crypto influencer, the price of Solana is expected to skyrocket to $1,000 and XRP to reach $7 within the year. “I believe that XRP will hit $7 and Solana will hit $1000 in 2024. That is not the top, that is not their peak,” Armstrong stated.
Notably, the current market value of Solana stands around $108.75 while XRP which is still below the $1 peg is trading at $0.63, as reported by CoinMarketCap. This would mean an around 1,000% increase for Solana and a 1,100% increase for XRP.
Armstrong outlined a roadmap for his predictions, involving factors such as Ripple’s Initial Public Offering (IPO) and the Ethereum Spot Exchange Traded Fund (ETF) becoming catalysts for the cryptocurrency’s price surge.
“Here’s the difference between XRP and Solana’s bull run. Solana has had its run up into the bull. It will continue to do well but it already has massively overinflated numbers. XRP is going to slowly wind up and at the end when the Ripple IPO launches that’s when XRP will go through the freaking roof. Because not only will it have the IPO, it will also have the Ethereum ETF going,” Armstrong said.
XRP price recovers from crash | Source: XRPUSD on Tradingview.com
XRP To Outperform Solana
In his YouTube video, Armstrong predicted the future trajectory of XRP up to 2025. His projections revolve around the aftermath of the Ethereum Spot ETF potential launch and the possible introduction of an XRP ETF.
The crypto influencer expressed confidence in XRP outperforming Solana in the future. This prediction could be attributed to the recent positive developments occurring within the XRP ecosystem including the improved regulatory clarity and the widespread acceptance of XRP in major crypto exchanges and countries globally.
“When the ETF gets launched, Ethereum is going to go sky high but what’s gonna happen is people are gonna start thinking about the next coin. What’s the next one that’s gonna get the ETF? This will be in 2025 when this happens. That’s when the XRP gets to long tail at the end of the blow-off top. I think XRP ends the bull run, and Solana starts it,” Armstrong stated.
Featured image from CoinGape, chart from Tradingview.com