Bets on Solana ($SOL) and $XRP Investment Products Rise as Institutional Investor Outflows Hit New Record

Institutional cryptocurrency investors have raised their bets on cryptocurrency investment products offering them exposure to Solana ($SOL) and $XRP, the native token of the XRP Ledger, during the past week, which saw record outflows from crypto investment products.

Timeline of Solana, Xrp

Although he strongly believes the resolution of Ripple's lawsuit with the U.S. Securities and Exchange Commission will be in favour of the XRP progenitor, vocal crypto advocate John E. Deaton has hinted at what might happen if the securities watchdog wins.

A Solana ($SOL) whale has, according to transaction data from the cryptocurrency's blockchain, deposited $10.2 million worth of the smart contract platform's native currency to Coinbase, a leading US-based cryptocurrency exchange.

XRP Price News: XRP lawyer John Deaton said the political and economic war on crypto is real. He predicted that there might not be legislation for crypto in the United States until late 2025.

Ripple chief executive Brad Garlinghouse says his company remains financially robust despite its exposure to the now-collapsed Silicon Valley Bank (SVB). Garlinghouse says that SVB was a banking partner and held some of Ripple's cash balance.

Over the past few days, Solana has been attempting to reverse its price action. Over the last 24 hours, the altcoin surged above 11%, bringing the price to a crucial level at press time.

Solana Price: The market is trading in green today as Bitcoin and other Altcoins are still seeing a jump today despite the collapse of three major U.S. banks last week. As of writing, Bitcoin price increased by over 17% in the last 24 hours and shoots past $26k.

XRP News: Ripple's native token, XRP price hasn't moved much over the past week while the biggest digital assets like Bitcoin (BTC) and Ethereum (ETH) prices have registered a remarkable recovery. However, the crypto whales seem unaffected by the recent bank crisis and its repercussions on the crypto market.

The most recent Solana price analysis is going strongly bullish today. Some traces of bearish resistance have also been observed, but bulls seem successful in dodging them again and continuing their lead.

Ripple‘s CEO recently confirmed the exposure to SVB, Silicon Valley Bank, which collapsed on Friday 10 March. Thus, it begs the question what impact this will have on the XRP token and, more generally, on the entire crypto sector.

Over the past two days, Solana appeared to reverse the bearish trajectory it had been on since late February. This was a trend across the crypto market following the short-term bullish sentiment behind Bitcoin in the early hours of Monday.