Quick Read
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XRP has the shorter road back: it needs a 216% gain to hit its record, while Solana needs 229%.
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Solana ETFs bled $25 million in a single day on November 6, and their assets fell from $1.73 billion to $1.31 billion.
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Base now holds more DeFi deposits than Solana, threatening the network's pitch as a leading home for DeFi apps.
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XRP(CRYPTO: XRP) and Solana(CRYPTO: SOL) both hit their 30-day lows in the same week in November 2026, so anyone buying either is buying near a low. As of November 8, XRP trades at $1.15, having fallen 7.5% over the past week and 17% over the past month.
Meanwhile, Solana closed at $89 on November 5, marking its 30-day low, and has stayed there as of November 8. SOL has dropped 6.1% in the last week and 18.7% in the past 30 days. Although XRP fell more sharply this week, Solana has the larger monthly decline.
Both cryptocurrencies have lost much of their value since their all-time highs. XRP trades 68.4% below its peak of $3.65, while Solana is 69.6% below its all-time high of $293. With both coins at monthly lows, which one has the shorter climb back, XRP or Solana?
XRP and Solana Would Be Worth Far More at Their Old Highs
XRP's market cap is about $73.3 billion, making it the fifth-largest cryptocurrency, while Solana ranks seventh with a market cap of about $52.6 billion.
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To return to its all-time high of $3.65, XRP needs a 216% increase. At that price, its market cap would surpass the level it reached in July 2025, because Ripple has released more coins from escrow since then. XRP has 63.52 billion coins in circulation out of a maximum supply of 100 billion, and its fully diluted market cap, which counts every possible coin, stands at $115.4 billion.
Solana faces a larger challenge because it has no maximum supply. The network keeps paying new SOL to validators, the computers that confirm transactions. With 591.04 million SOL circulating and a total supply of 637.19 million, Solana would need a 229% gain to reach $293, which would push its market cap to around $173 billion, above its January 2025 peak.
XRP Has Tokenization, a Steady ETF Base and a Shorter Climb
The XRP Ledger also hosts tokenized assets, which are traditional assets like Treasury bills placed on a blockchain. It ranks sixth among blockchains for tokenized assets, holding about $5 billion. That gives XRP a use beyond speculation, tied to Ripple's payment and settlement services.
However, buying in spot XRP ETFs, funds that hold XRP and trade like a stock, has gone quiet. Net flows into these ETFs were zero from November 3 to November 6, with total net assets at $1.34 billion. The funds have taken in $1.81 billion since launch, but their largest single inflow in the last month came on October 29, at just $8.4 million. XRP's ETF investors haven't left, but their buying has slowed.
XRP trades 16.2% below its 50-day moving average of $1.38, which makes that level the first target for any recovery. Two days earlier, at $1.18, XRP faced the same resistance. Buyers have returned quickly before, though. XRP climbed from $1.01 on August 10 to $1.40 by September 9, when Solana and XRP rallied together.
Solana Got Faster, but Its ETF Holders Keep Selling
Meanwhile, Solana launched its new consensus system, Alpenglow, on October 21. The upgrade cut finality, the point at which a transaction can no longer be reversed, to about 150 milliseconds. Even so, buyers haven't rewarded it. SOL traded at $101 on October 25, days after the launch, and has since dropped 12% to $89.
Solana ETFs have also faced steady outflows. The U.S. spot Solana ETFs recorded zero flows from November 2 to November 4, followed by outflows of $1.2 million on November 5 and $25.1 million on November 6. Since October 9, their total net assets have fallen from $1.73 billion to $1.31 billion. That selling by ETF holders helps explain Solana's sharper decline over the past 30 days.
Additionally, Base, a network built on Ethereum by Coinbase( NASDAQ: COIN ), now holds more DeFi deposits than Solana, at $5.82 billion to Solana's $5.24 billion, according to DefiLlama data from November 7. Solana has sold developers on being a leading home for DeFi apps, so losing ground to a rival could slow new deposits, a pressure that also came up after Solana's earlier drop.
Is It Better to Buy XRP or Solana at These Lows?
XRP appears to have the shorter path to recovery. It needs a 216% gain to reach its all-time high, compared to Solana's 229%, and trades 16.2% below its 50-day average, while Solana is 17.3% below its own. XRP's ETF inflows have also paused, while Solana's have turned negative. A turnaround could begin with renewed ETF buying and a close above $1.38, but a break below $1.15 could send XRP back toward $1.01, 12.5% lower.
Solana needs more to go right. SOL trades right at its 200-day average of $89, so it first has to hold that level, then see ETF outflows stop and reclaim its 50-day average of $108, 21% above its price. A close below $89 could put its August 16 low of $75, 16% lower, back in view. Another Solana ETF outflow above $25 million would suggest SOL's slide has further to run.
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