XRP, SOL, HBAR on Fire: The Crypto ETF Buzz You Can’t Ignore!
- Trump’s unexpected election victory and the growing buzz around ETFs have set the stage for a thrilling surge in top altcoins like XRP, HBAR, and SOL, delivering remarkable quarterly gains and skyrocketing market caps.
- Experts believe Bitcoin and Ethereum ETFs will lead the charge, clearing the path for regulated altcoin ETFs like Hedera, potentially revolutionizing crypto adoption in 2024.
As we sprint towards the conclusion of 2024, the crypto ETF conversation is heating up, captivating investors across the nation. Following Donald Trump’s astonishing election win, optimism is bubbling over, particularly for top-tier altcoins like XRP, Hedera (HBAR), and Solana (SOL). This positive sentiment could ignite a powerful rally as we head into the new year.
Industry analysts are keenly focused on these altcoins, especially with Bloomberg’s Eric Balchunas and James Seyffart forecasting that Litecoin and Hedera ETFs might lead the pack. Their clear regulatory status positions them as frontrunners, unlike Solana and XRP, which are currently entangled in challenges from the U.S. Securities and Exchange Commission (SEC). This developing scenario represents a transformative opportunity for both institutional and retail investors!
The initial wave of ETF approvals is anticipated to spotlight Bitcoin and Ethereum, assets that have captured the interest of institutional investors. As previously reported by CNF, major players like Franklin Templeton, Bitwise, and Hashdex have put forth applications for these funds, signaling strong confidence in regulatory approval. If these applications gain traction, it could create a ripple effect, allowing altcoins to follow suit.
The Crypto Market Soars Post-Trump Triumph
In the wake of Trump’s November victory, the crypto market experienced significant gains, with investors expecting a continued pro-crypto agenda from the Republican leadership. Take XRP, for example—it surged by an impressive 54.65% in just a month, hitting $2.31 and boasting a market cap of $132.3 billion. Over the past quarter, it experienced a staggering growth of 270%, now proudly standing as the fourth-largest cryptocurrency!
Hedera’s HBAR also had a remarkable month, climbing by 114.60% to $0.316, with a phenomenal quarterly increase of 420%, leading to a market cap of $12.08 billion. Despite a minor dip, Solana recorded a sturdy 26% quarterly growth, now valued at $94.78 billion and holding the sixth spot in the crypto hierarchy. These numbers underscore the undeniable influence of regulatory dynamics and market sentiment on the crypto landscape.
XRP investors are feeling the heat as the coin approaches the critical $3 mark, with resistance projected at $2.92. Meanwhile, HBAR is eyeing a potential target of $0.45 by year-end, contingent on Bitcoin’s momentum. Solana, too, could be gearing up for a retest at $260, thanks to increased network activity.
ETF Approvals and Bullish Year-End Expectations
Hedera’s classification as a non-security by the SEC boosts its chances for an ETF debut ahead of XRP, which remains mired in regulatory hurdles. Some analysts speculate that if the SEC drops its ongoing case against Ripple, XRP might rebound and reach unprecedented heights. A wave of regulatory clarity in 2024 could unleash a broader adoption of crypto assets.
Solana’s network activity suggests that its current consolidation around $200 could soon break free to the upside. While four-figure projections may still be ambitious, a climb to $260 looks increasingly feasible if market demand remains robust. Conversely, CEEK Coin, focused on the metaverse, has lagged behind due to dwindling interest.
The closing months of 2024 promise a cocktail of opportunities and challenges for crypto aficionados. As the ETF debate continues to unfold, altcoins like XRP, HBAR, and SOL remain in the limelight, primed to finish the year with strong potential for growth. The broader crypto market is on the edge, eagerly awaiting clarity that could chart a bold new course in the year ahead.
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