Important Ripple (XRP) Developments, Bitcoin (BTC) Price Rally in Danger, Solana (SOL) Price Bull Run: Bits Recap Nov 13

TL;DR

• Bitcoin (BTC): Experienced a significant rise to nearly $38,000, with some experts predicting future values as high as $220K to $350K.
• Ripple (XRP): Saw a price increase to $0.73, now at $0.65, with strategic expansions in Africa and approval for use in Dubai’s financial hub.
• Solana (SOL): Marked an 80% increase in two weeks, reaching around $58, with a notable rise in its ecosystem’s total value locked.

BTC’s Turbulence

The largest cryptocurrency by market capitalization has recently charted impressive gains, triggering fresh hopes that an actual bull run could be on the horizon. It spiked to an 18-month high of almost $38,000 (per CoinGecko’s data) on November 9. However, it quickly retraced below $36,500 in the following hours.

The ups and downs continued in the remaining days of last week, and currently, BTC is worth approximately $37,000, meaning its price has soared by over 120% since the beginning of the year. 

Numerous experts and analysts believe the recent uptrend might be just the beginning of a rally that might take the asset to unseen peaks. Among those were Max Keiser (Chairman of El Salvador-based Bitcoin mining startup Volcano Energy) and Michael Saylor (Executive Chairman of MicroStrategy).

The former believes BTC could explode to $220K following possible social unrest, while the latter sees BTC trading at over $350K, bolstered by the 2024 halving event.

Those curious to check five additional price forecasts coming from prominent figures could take a look at our dedicated video below:

What’s New Around Ripple (XRP)?

Ripple and its native token – XRP – have also been in the spotlight. A week ago, the coin’s price surged to almost $0.73 (a mark last observed in July 2023) but later descended to its current level of $0.65.

For its part, Ripple teamed up with mobile payments provider Onafriq to establish payment corridors in multiple African countries, employing blockchain technology for efficient remittances and settlements.

Prior to that, the Dubai Financial Services Authority (DFSA) approved XRP for use within the Dubai International Financial Centre (DIFC) —the leading financial hub in the Middle East. This means licensed cryptocurrency companies and businesses within the DIFC can integrate the asset into their digital asset services.

Solana (SOL) is the Rock Star

The sixth largest crypto asset by market cap – Solana (SOL) – has undoubtedly been among the top trending and discussed coins in the past several weeks due to its massive price surge. Currently, it is hovering around $58 – an 80% rise for the past 14 days and a whopping 165% jump on a monthly basis.

Moreover, SOL crossed $60 during the weekend for the first time since May 2022. As CryptoPotato reported, the total value locked (TVL) of Solana ecosystem projects has skyrocketed to $465 million —a substantial increase from $300 million in early October.