But an analyst says that "interest in Ripple's currency ($XRP
) and this alternative currency continues," revealing price expectations!
Bitcoin's ($BTC
) and the cryptocurrency market have been negatively affected by tensions between Israel and Iran.
At this stage, the cryptocurrency markets have experienced a sharp decline as investors reacted to renewed military activity in the Middle East, and Israeli airstrikes on Iran led to a broader risk aversion.
Bitcoin's price dropped to $103,000 before recovering to $104,600, while Ethereum and alternative cryptocurrencies saw significant declines.
Ethereum's price fell by 8.8% in the past 24 hours, while Ripple's price dropped by 5%, and Solana's ($SOL ) price decreased by 9%.
However, one analyst stated that despite declines and increasing geopolitical tensions, the prices of Ripple and Solana are still witnessing a positive impact from corporate speeches, continuing to attract institutional interest.
Speaking with CoinDesk, Ryan Lee, the chief analyst at Bitget Research, said that Ripple is attracting attention with its increasing share of institutional treasury bonds.
At this stage, Ryan Lee stated that companies like Chinese We,,bus Interna,,tional ($300 million), Vivo,,Power ($121 million), Wellg,,istics ($50 million), and Trid,,ent ($500 million) are putting pressure on XRP purchases nearing $1 billion.
"The increase in XRP institutional treasury bonds indicates greater institutional adoption of XRP due to its lower cost and high speed in payments."
At this stage, he stated that regulatory clarity around XRP speculation and ETFs could push XRP to $5 by mid-2025. However, he added that the risk of XRP falling still exists.
Interest in Solana (SOL) continues!
Ryan Lee, who also reviewed his estimates for Solana, confirmed that institutional interest in Solana remains strong, as SOL benefits from strong network fundamentals and demand for ETFs, with data indicating further gains.
Solana's stock price rose to about $165, supported by execution revenues exceeding $1.2 billion in the first quarter, and an increase in open interest in futures markets, according to Lee.
This indicates renewed confidence in Solana among both individual and institutional investors.
At this stage, the analyst stated that if the current momentum in Solana continues, its price could rise to the range of $200-$250, or even exceed $300.
*This is not investment advice.
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