XRP and Solana Drive $4B Crypto Market Cap Amid ETF Hopes

For the first time in September, the combined market capitalization of all cryptocurrencies reached the $4 billion mark. This growth is being driven by Solana and XRP (Ripple), which are hoping for ETFs.

Bitcoin continues to tread water at around $111,000, but the crypto markets are receiving a boost from two US altcoins. With weekly gains of 4 percent each, XRP (Ripple) and Solana have beaten the overall market trends. As a result, the total market capitalization reached $4 billion, its highest level in over three weeks. Experts believe the current strength of XRP and Solana is due to the fact that the two altcoins could soon be listed on traditional stock exchanges as ETFs.

So far, the US markets have focused on ETFs for Bitcoin and Ethereum. However, a list compiled by Bloomberg expert James Seyffart on X shows that ETF applications for dozens of cryptocurrencies have been submitted to the US Securities and Exchange Commission (SEC). In the case of Ripple, there were recently clear signals from the SEC regarding the approval of XRP ETFs , and the situation for Solana looks similarly positive.

Investment products for XRP and Solana are flourishing outside America

Analysts at CoinShares note in their latest weekly report that XRP and Solana, with ETF-like products outside the US, have each managed to generate a good $1 billion in capital inflows this year. This indicates existing demand for XRP and Solana ETFs in the US as well. The loser here at the moment is Ethereum , which has seen approximately $900 million in capital withdrawn in the last seven days. “Reallocation is taking place with an eye on the fourth quarter,” market participants say.

Optimism for Solana and XRP is also reflected in the betting markets. Polymarket predicts a 53 percent probability for Solana to reach a new all-time high this year. And for XRP, 42 percent believe the Ripple cryptocurrency will reach the $4 mark in 2025, which would also represent a new all-time high.

Conclusion: XRP and Solana are clamoring – Bitcoin neutral

Overall, the slight upward movements in the overall crypto market are a positive sign, even if Bitcoin is not currently benefiting from them. BTC is waiting for the so-called ” Uptober ” and is at least holding steady. ETFs for XRP and Solana are apparently already being priced in. If these do indeed make a convincing debut on US exchanges, the way could be paved for a crypto rally in the fourth quarter.

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