Solana is Unstoppable After Eclipsing XRP & BNB for a While: A Fresh Rally Could be on the Horizon

Solana achieved the highest milestone for the year at $98 after maintaining a bullish trend for a couple of days. The token is poised to reach the milestone of $100 after registering itself as the best performer of 2023 within the top 10.

Timeline of Bnb, Solana, Xrp

Solana has made a spectacular entrance into the 2023 bull market, exhibiting performance similar to its stellar rise back in 2021. In just the past two days, the SOL/USDT price chart has surged impressively, growth that has not only caught our attention but has also shown dominance over other major assets in the crypto space.

Since Monday, Solana (SOL) has rallied by over 45%, approaching the much-awaited $100 mark. It has flipped Binance's BNB to become the cryptocurrency with 4th largest market capitalization.

Bitcoin (BTC) squeaked a few percentage points higher on Monday to close the session at $37,450 before dipping back to $37,300 this morning. On the payment layer, bitcoin transaction fees have flared up again, having hit a six-month high in the past few days.

The Solana (SOL) price rally continues to be unstoppable with another 17% rally and moving extremely close to $100. As of press time, the SOL price is trading 17.15% up at $97.76 with a market cap of $41.7 billion.

In a recent post on X (formerly Twitter), David Schwartz, Ripple's Chief Technology Officer (CTO), shared his predictions for the blockchain industry in 2024 and beyond. Interoperability As Catalysts For DeFi Growth On The XRPL According to Schwartz, the convergence of artificial intelligence (AI) and blockchain will revolutionize cybersecurity and financial services.

Ripple chief executive officer Brad Garlinghouse heavily criticized U.S. Securities and exchange commission (SEC) Gary Gensler for his latest message around non-compliance in the crypto industry. Gensler's statement comes after US Senator Elizabeth Warren's recent efforts to initiate a bill that effectively bans Bitcoin in the United States.

XRP price has recently demonstrated a sideways price action, deviating from the overall trend witnessed across the cryptocurrency market and altcoins. Despite a modest 2% growth in the past 30 days, with prices ranging between $0.6427 and $0.5994, a crypto analyst operating under the pseudonym James Crypto has made a bold prediction based on Elliott Wave Theory's interpretation of XRP's monthly chart.

Solana prices have shown some serious strength lately, rallying to their highest level since April 2022 as the network benefits from substantial activity and strong interest in memecoins.

Ripple President Monica Long thinks 2024 will be a “breakout moment” for the crypto space, particularly the decentralized finance (DeFi) sector. Long says crypto is primed to break the “speculative hype cycles” that the industry has been chained to since the origin of Bitcoin (BTC).

Solana (SOL) is flying high at the moment, and from all indications, the crypto token has no intention of slowing down anytime soon as it eyes $100. This is no doubt feasible, considering the several bullish narratives that continue to build up in the Solana ecosystem.