HomeCryptoForecasts for the crypto of Ripple, Solana, and Ethereum

Forecasts for the crypto of Ripple, Solana, and Ethereum

In these days, some forecasts on the price trends of some crypto have been released, particularly those of Ripple, Solana, and Ethereum. 

The crypto market is experiencing a moment of relative calm, and as often happens in this sector, the calm could be followed by the storm.

The forecast on the crypto Ripple (XRP): the comparison with Solana and Ethereum

The price of XRP, that is the crypto of Ripple, has not been recording particularly significant movements for a long time. 

It started the year at $0.6, after reaching up to $0.8 during 2023, and during these first months of 2024, it has been limited to lateralizing between $0.5 and $0.7. 

Although over the past 12 months it has recorded three significant price increases, these have always been followed by a decline that brought the price back around $0.5. 

By now, it has been unable to break away from this base level since the end of 2020, even though it managed to surpass even $3 during the last great bull run. However, it was only the classic speculative bubble, after the burst of which everything returned to normal.

The current price is in line with $0.5, and it is also in line with that of a month and a half ago or early February. 

Despite this, there are some analysts who believe a new major boom is possible.

The reasoning behind this hypothesis is that over a monthly time frame the price of XRP would be in reversal territory, if compared to that of BTC. The last 3 times it happened 

something similar was then seen with significant movements to the bull.

Additionally, the monthly RSI is at its lowest value ever, compared to BTC.

In a strict sense, however, this is not a true forecast, but a bullish hypothesis due to the analysis of the past: it is by no means certain that the past will repeat itself. 

The latest performance of Solana (SOL)

The native crypto of the Solana ecosystem is SOL. 

SOL had a truly impressive 2023, thanks to a rise from around 10$ to around 100$.

During the course of this year, the upward trend continued for a while, that is until the annual peak of over $200 shortly after mid-March, but then it seems to have halted.

However, although the price later fell below $130, only to reposition itself above $160, the levels reached after the annual peak remained enormously higher than those with which it had started 2024. In fact, they turned out to be higher even than the annual peak of 2023, which was just above $120.

Moreover, the historical record of 2021 was reached at around 260$, so not much higher than the 200$ of March. 

However, this does not seem capable of ensuring that the trend can return to being bullish. 

The hypotheses seem to be two, in the short term: either it manages to get back to $200, or it risks falling below $150.

It should not be forgotten that memecoins now tend to have positive effects also on the price of SOL, given that one of the main ones is indeed a token on Solana. 

At this moment, the SOL price is consolidating within a narrow range between $163 and $172. This suggests the possibility of triggering a broad forward movement.

However, it is not at all certain that this will happen, and in the event that the broad forward movement does not occur, a bit of disappointment could spread, which in turn could bring the price back below $150.

This is therefore a moment of uncertainty after a ride that lasted for more than 5 months. Perhaps it is precisely this ride that makes a new sprint towards 200$ a bit more difficult. 

Analysis of Ethereum (ETH) Price

The speech for Ethereum, and its native crypto ETH, is still different.

In this case, in fact, there is a certainty: the actual landing on the USA stock exchanges of the ETFs on ETH spot scheduled for early July, or late June. 

During the course of 2024, the price of ETH first rose from $2,200 to nearly $4,100, and then returned to $2,800. 

Although these levels are still much higher than the $1,500 from which the bull run at the end of 2023 started, the trend of 2024 seemed a bit disappointing when compared to that of Bitcoin.

But Bitcoin has been able to benefit from the launch of spot BTC ETFs on US exchanges, while ETH has not yet. In fact, as soon as the news spread that the SEC was intending to approve spot Ethereum ETFs, the price of ETH returned above $3,700.

Now there is a lot of anticipation for the actual stock market debut, although it should be remembered that in the two weeks following the stock market debut in the USA of spot Bitcoin ETFs, the price of BTC fell. This makes it seem still a bit too early to imagine a rise in the price of ETH. 

Furthermore, according to some analysts, capital inflows into ETH ETFs could prove to be significantly lower than those into BTC ETFs. 

In fact, for example, the analysts at JPMorgan predict a drop in the price of ETH after the actual stock market debut of the ETFs. 

Although it cannot be ruled out that the price may rise before the launch, the fact that many believe a post-launch drop is possible means that the chances of a pre-launch rise are reduced. 

However, if one goes further, that is, after the post-launch decline, the trend in the medium to long term could still prove to be positive. 

It should not be forgotten that during this 2024 the price of Ethereum has not yet managed to return to the historical highs of 2021, while that of Bitcoin has. Much will depend on the potential success, or failure, of the ETFs on ETH spot on the US exchanges, on which there is still a certain margin of uncertainty at this moment. 

Marco Cavicchioli
Marco Cavicchioli
Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".