The Race for ETF Approval Begins: It’s Not the Time to be Bearish on XRP & Solana—But Here’s a Twist
Posts ETF-approved race begins: Now isn’t the time to bearish on XRP and Solana, but it’s a twist Appear first Coinpedia Fintech News
Since institutions have measured the success of Bitcoin and Ethereum ETFs, they have stepped up searches for other potential ETFs. Although Solana has strengthened the base in the rage of Zero Networks over the past 12 months, XRP has proven to be a sleeping giant after this extraordinary bull run. Now that both are in ETF-approved competitions, the possibility of XRP Bull Run & Sol Bull Run has gained tremendous momentum.
Prior to XRP, Solana is expected to be approved this month, which is considered a game-changer. After applying for the SOL ETF, BlackRock seems to be confident in its approval, which can be seen as the most bullish signal for the token. Additionally, Grayscale also requested to convert its Solana Trust to an ETF that is currently publicly reviewed. Now, cyber activity has risen with monumental dominance, and Defi’s growth has been supported, Sol Price It is believed that the 4-digit number will soon be reached.
Over the wider timeframe, SOL prices are rising in a parallel channel and have found a strong foundation on average. Additionally, the 50-day WMA has been a strong foundation since the fourth quarter of 2024, while the weekly RSI is traded within the upper band throughout the year. In addition, the price is meeting the same pressure on both sides, implying that the pressure above the token is too high. Therefore, SOL price is expected to rebound and recover $250 in the next few weeks, and a breakthrough in this model may start a new bull.
Additionally, Solana continues to face regulatory hurdles as the SEC still classifies SOL as security, which could complicate ETF approvals. Meanwhile, the upcoming exchange lawsuit may delay approval. On the other hand, according to Judge Torres’ ruling, XRP is not a security, giving it a legal advantage over SOL. Therefore, it might be interesting to see if the Solana ETF is approved first or XRP.
