A staunch Solana proponent appears to be pivoting to XRP after admitting that XRP has outperformed Solana the “whole year.”
Helius CEO and former Coinbase employee Mert Mumtaz raised eyebrows today when he posted a tweet no one ever thought he would: that XRP is outperforming his beloved Solana.
He noted in his Monday tweet that “it’s over” for Solana, claiming that it may never reach XRP’s level again. According to him, Solana does not have the technology to match XRP toe-to-toe.
Meanwhile, Mumtaz did not provide further context or the reason behind his claims. Moreover, it may just be another box of tricks in his collection of trolls, for which he is widely known.
XRP Clearly Outperforms Solana
Currently the fourth-largest crypto by market, XRP has been a standout altcoin this cycle. XRP is one of the few coins, alongside Bitcoin and Tron, that have seen a year-to-date price gain that defies the broader market’s underperformance since the start of the year.
In particular, XRP is up 4.82% year-to-date, while Solana is down 20.4%, and Ethereum has crashed by 26%.
Notably, XRP flipped Solana in December to become the fourth-largest crypto by market cap and has maintained that lead to date. Solana dropped even further to sixth place, with BNB overthrowing the “Ethereum killer.”
Price-wise, XRP rallied from $0.50 in November to close the year at $2.08. The momentum continued this year, with XRP rallying 45% to reach a yearly high of $3.40 before retracing to the current price. While Solana recorded a 22% rally in January to reach a new all-time high of $295, its performance still lags behind XRP’s.
On a yearly timeframe, XRP remains up 361%, while Solana has increased by only 150%.
A Better Technology Than Solana?
XRP is the native token of the XRP Ledger, a network to which Ripple is a major contributor. Furthermore, Ripple utilizes XRP as the primary asset for its rapidly growing cross-border payment solution.
Meanwhile, Solana has utility in a far different lane than XRP. The Solana network is one of the fastest in the crypto landscape, building on Ethereum’s flaws to create not just a quicker but also a cost-effective blockchain for retail and institutional transactional applications.
Indeed, XRP has been drawing all the attention this cycle amid institutional traction via ETFs and inclusion in corporate treasuries. Similar trends are observable with Solana, and its technology could be seen as a complement to the XRP ecosystem.
Interestingly, analysts have suggested that the U.S. Solana spot ETF could launch before XRP’s. Jason Yanowitz revealed a discussion with a top-five bank, which expects the Solana-based investment fund to list in a few months, followed by the XRP spot ETF.
XRP’s Future Trajectory
Nonetheless, enthusiasts remain particularly optimistic about XRP’s bullish trajectory. Despite its clear lead among altcoins, many still expect higher prices this cycle. For instance, popular crypto influencer Dustin Layton recently stated that a 1,000 XRP stash would yield a minimum of $50,000 in profit, culminating in a price expectation above $50 per coin for XRP by the end of the year.
Meanwhile, some estimate far more ambitious prices for XRP. A former NEAR engineer recently weighed in on the popular aspiration for XRP to reach $10,000, calling it a powerful belief akin to a religion.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
