XRP vs. Solana: Time to Buy the Dip or Stay Cautious?
Quick Overview
XRP has a shorter recovery path, needing a 216% increase to return to its peak, while Solana requires a 229% rise.
On November 6, Solana ETFs experienced a significant loss, shedding $25 million in value, with total assets declining from $1.73 billion to $1.31 billion.
Base has overtaken Solana in DeFi deposits, raising questions about Solana’s position as a leading platform for DeFi applications.
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XRP (CRYPTO: XRP) and Solana (CRYPTO: SOL) both recorded their lowest values in 30 days during the same week in November 2026. As of November 8, XRP is priced at $1.15, reflecting a 7.5% decrease over the past week and a 17% decline over the last month.
Meanwhile, Solana closed at $89 on November 5, reaching its 30-day low, and maintained this price as of November 8. SOL has fallen 6.1% in the last week and 18.7% in the previous month. While XRP has seen a sharper decline this week, Solana has a larger drop over the month.
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Both coins have significantly dropped from their all-time highs. XRP is currently 68.4% lower than its peak of $3.65, while Solana is down by 69.6% from its all-time high of $293. Now that both cryptocurrencies are at their monthly lows, which has a shorter journey ahead—XRP or Solana?
XRP and Solana Would Have Greater Values at Their Previous Highs
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Currently, XRP holds a market cap of approximately $73.3 billion, ranking it as the fifth-largest cryptocurrency. In comparison, Solana is the seventh-largest, with a market cap of around $52.6 billion.
For XRP to return to its all-time high of $3.65, it would require a 216% increase. Achieving this price point would elevate its market cap beyond its July 2025 peak, as additional coins have been released from escrow since then. Presently, there are 63.52 billion XRP in circulation out of a maximum supply of 100 billion, with a fully diluted market cap of $115.4 billion.
In contrast, Solana faces a steeper challenge as it does not have a capped supply. The network continues to reward validators, who confirm transactions with newly minted SOL. With 591.04 million SOL currently circulating and a total supply of 637.19 million, Solana would have to increase by 229% to reach $293—pushing its market cap to about $173 billion, surpassing its January 2025 peak.
XRP Benefits from Tokenization, Steady ETF Base, and Easier Recovery
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The XRP Ledger supports tokenized assets, including traditional assets like Treasury bills on the blockchain. It ranks sixth among various blockchains for its tokenized assets, with a portfolio worth about $5 billion, providing XRP a utility beyond mere speculation and connecting it to Ripple’s payment solutions.
However, activity in XRP spot ETFs—funds that hold XRP and function similarly to stocks—has slowed down. From November 3 to November 6, net flows into these ETFs were zero, with total net assets reaching $1.34 billion. Since the inception of these funds, they have attracted $1.81 billion, yet the largest single inflow during the past month occurred on October 29, at just $8.4 million. Even though XRP ETF investors have not exited, their purchasing enthusiasm has waned.
XRP is currently trading 16.2% under its 50-day moving average of $1.38, suggesting that this level serves as the first target for any potential recovery. It faced resistance at $1.18 two days ago. However, buyers have shown quick return capabilities in the past, evidenced by XRP’s rise from $1.01 on August 10 to $1.40 by September 9 when both XRP and Solana experienced surges together.
Solana Improved Speed, Yet Its ETF Holders Are Exiting
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On October 21, Solana introduced its new consensus mechanism, Alpenglow, which has reduced transaction finality to around 150 milliseconds. However, despite this enhancement, buyers have not responded positively; SOL was priced at $101 on October 25 shortly after the upgrade but has since decreased by 12% to $89.
Solana ETFs have experienced consistent outflows as well. The U.S. spot Solana ETFs saw no flows from November 2 to November 4, followed by negative flows of $1.2 million on November 5 and $25.1 million on November 6. Overall, total net assets have dropped from $1.73 billion to $1.31 billion since October 9. This selling trend among ETF holders may clarify Solana’s pronounced decline over the past month.
Moreover, Base—a network developed on Ethereum by Coinbase (NASDAQ: COIN)—has surpassed Solana in DeFi deposits, boasting $5.82 billion compared to Solana’s $5.24 billion, based on data from DefiLlama as of November 7. This shift could put pressure on Solana’s appeal as a primary location for DeFi applications, especially as it has promoted itself as such additional time.
Is It More Prudent to Invest in XRP or Solana at These Levels?
XRP currently exhibits a shorter pathway to a potential rebound, requiring a 216% increase to return to its all-time high, compared to Solana’s 229%. XRP trades at 16.2% under its 50-day average, while Solana is 17.3% below its own. While buying activity for XRP’s ETFs has stabilized, Solana’s has declined. A resurgence may occur with renewed ETF interest and a price closure above $1.38; conversely, a drop below $1.15 might push XRP down to $1.01, a further decline of 12.5%.
For Solana, more conditions need to align favorably. SOL is presently trading at its 200-day average of $89, so it must maintain this threshold, halt the ETF outflows, and reclaim its 50-day average of $108, which is 21% higher than its current value. If it closes below $89, the previous low of $75, down 16%, might again become relevant. Another ETF outflow exceeding $25 million would indicate further declines for SOL.
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