The cryptocurrency market is gradually emerging from a prolonged phase of consolidation, and in the spotlight are not only traditional leaders like Bitcoin and Ethereum, but also so-called “alternative locomotives” — Solana (SOL) and XRP. Against the backdrop of growing institutional interest, the development of new products, and expectations of spot ETF approvals from the SEC, these assets are increasingly seen by investors as strategically important.
Solana: Accelerating Institutional Adoption
Solana, the world’s sixth-largest cryptocurrency by market cap, has been positioned as an Ethereum competitor for several years. Its key advantages remain high transaction speeds (up to 2,000–3,000 per second) and extremely low fees. These parameters make the blockchain attractive not only for DeFi and NFT developers but also for major financial institutions.
One of the main growth drivers was BlackRock’s March announcement of launching its BUIDL money market fund on the Solana blockchain. The move sparked widespread attention, as it was the first time such a major global financial player brought a product to Solana’s infrastructure. BlackRock’s partner — Securitize — called it a “historic moment for institutional adoption of tokenized real-world assets (RWA).” According to RWA.xyz, the tokenized assets market already exceeds $20 billion, and Solana may capture a leading share.
Investor Matthew Tuttle emphasized: “We will see other funds follow the same path. This is a huge step forward for Solana.”
Nevertheless, despite strong fundamentals, SOL traded around $180 in August, well below its January peak of $294. However, since its launch in 2020, the asset has grown significantly and has become one of the leading platforms for Web3 applications.
XRP: Leader in Cross-Border Payments
Unlike Solana, XRP focuses on the real financial sector. Its RippleNet platform already connects more than 300 banks and payment providers worldwide, including major institutions like Bank of America, Santander, and American Express.
XRP’s main advantage is the ability to execute cross-border transactions in 3–5 seconds with fees under $0.0002. By comparison, the traditional SWIFT system takes several days and can cost over $50 per transfer.
These features make XRP a unique solution for international business. According to Roxanna Islam of TMX VettaFi, “XRP has a real use case — it’s faster and cheaper than ETH or BTC, and Ripple’s management remains strong and trustworthy.”
The outlook improved further after the SEC classified XRP as a commodity rather than a security. Although Ripple still faces a fine, the main legal risk for the token has essentially been removed. Since the start of the year, XRP has risen above $3, reflecting steady demand.
ETFs and Institutional Support
One of the most important upcoming events could be the SEC’s decisions on ETFs for Solana and XRP. Applications have already been filed by some of Wall Street’s biggest players: Grayscale, Fidelity, Franklin Templeton, VanEck, 21Shares, and Bitwise.
Analysts expected final decisions in October, but the timeline may accelerate since in June the SEC requested updated S-1 forms from all applicants. Approval of even one product would serve as a major catalyst for price growth.
Meanwhile, interest is also increasing in “basket ETFs” tracking multiple cryptocurrencies at once. Hashdex and Franklin Templeton are already developing funds that go beyond BTC and ETH to include Solana, XRP, Litecoin, and Avalanche. This format allows institutional investors to diversify risks and reduce portfolio volatility.
Futures Market: Rising Volumes
At the same time, the derivatives market is expanding. CME Group recently broadened its crypto contract lineup to include Solana and XRP futures. In July, they recorded all-time highs: 12,565 contracts for SOL and more than 4,700 for XRP. The rise in open interest signals growing institutional involvement.
Thus, Solana and XRP are emerging as “second-line” assets that complement Bitcoin and Ethereum while offering unique strengths: speed and scalability for Solana, and leadership in cross-border payments for XRP.
Outlook
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Solana: For long-term success, it needs to develop a “killer app” on par with Ethereum’s DeFi revolution, capable of attracting a mass audience. If achieved, SOL could become the go-to blockchain for real-world applications.
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XRP: Its future depends on the expansion of RippleNet and the final resolution of legal issues in the U.S. Given the interest from financial institutions, the token has every chance to maintain its status as a key instrument for cross-border settlements.
Overall, expectations around potential ETF launches and growing institutional demand form a positive scenario for both assets. Analysts note that the second half of 2025 could be a decisive stage for cementing Solana and XRP as systemic players in the crypto market.
