President Trump’s Return Reignites Crypto Hype—What’s Next for XRP and Solana?

• XRP has been predicted to hit double digits this cycle and proceed to reach $110 in the next cycle.
• Solana (SOL) has also been tipped to reach $387 this cycle once it successfully holds above a crucial support level. 

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The hype around the return of Donald Trump as the US president reset the crypto market into bullish ways as key participants and retail investors alike placed hope on the removal of enforcement actions resorted by Joe Biden’s administration. Truly, Trump signed an Executive Order to safeguard digital assets and ease the regulatory pressure as outlined in our recent blog post.

However, the impact on the market was short-lived as Bitcoin, for instance, took a sharp nosedive from its “post-Trump’s inauguration high” of $109k to $91k. At press time, the asset was trading at $95k.

XRP, one of the assets whose growth was stifled by the long legal battle against the US Securities and Exchange Commission (SEC), ascended to a new year high of $3.3 after the inauguration. However, the asset recorded a decline to $2.4 after the euphoria faded. Interestingly, analysts have tipped XRP to hit an unprecedented high this cycle.

XRP to Hit $110?

According to analyst EGRAG CRYPTO, XRP could record an explosive move to hit $110 in the next cycle. For this cycle, the analyst predicted that XRP could hit double digits. This prediction was based on the formation of a cup pattern. To him, XRP could likely hit $13 soon.

In another post, the analyst explained that the current price of XRP appears to be creating a “make or break” move where a surge above $2.60 and $2.85 could be “bullish and super bullish,” respectively. However, a fall below the $2.3 support level could be a bearish sign for the asset.

Joining this conversation, an analyst identified as Dark Defender also pointed out that the asset is on the verge of completing its consolidation phase on the daily chart. Per his observation, the next bullish wave could position XRP above the $5.85 and $8.76 levels.

Meanwhile, whales have made a quick move to purchase the recent dip as they accumulated $520 million worth of the asset recently. As detailed in our last news piece, $11.2 million has been invested in XRP in the past week.

Solana to Hit $387?

The next crypto asset that has been tipped for a bullish run under the new US administration is Solana. This asset recorded a new all-time high on January 19 but took a nosedive to $180 before bouncing back to the current position at $193.

According to analyst Ali Martinez, SOL is currently testing a major support area. Per his thesis, holding above this point could strengthen the uptrend and push the asset to $387. For this prediction to materialize, SOL would have to surge by around 90% from the current level with the support of a stronger volume and renewed demand. Interestingly, asset manager VanEck has also predicted that SOL could hit $520 this year. As featured in our recent coverage, the prediction is based on the expected rise of its Smart Contract Platform market to 22%.

Our Solana Price Target by the End of 2025 is $520

We value Solana (SOL) based on its projected year-end market share within the smart contract platform (SCP) market. Our SCP market cap forecast is derived from U.S. M2 money supply growth, given its strong historical correlation…

— VanEck (@vaneck_us) February 6, 2025