Solana could overtake XRP in market capitalization as both networks compete to power the tokenization of real-world assets, according to a Tuesday analysis from Alex Carchidi of The Motley Fool. The report argues that Solana’s speed and low costs position it well for scaling tokenized equities and funds, while XRP’s compliance-focused infrastructure may appeal to institutional issuers.
Tokenization Race Intensifies
At the time of the report, XRP’s market value stood at roughly $87 billion versus about $50 billion for Solana, placing SOL seventh among major cryptocurrencies behind Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance Coin (BNB), XRP, and USD Coin (USDC). Both networks are targeting the emerging market for tokenized real-world assets (RWAs)—including stocks, bonds, and commodities represented on blockchains to enable faster settlement and broader market access.
Citing industry forecasts, the analysis notes that tokenized stocks could exceed $38 billion in value by 2035, up from around $1 billion today, underscoring a growth area that could materially influence network adoption and valuations.
Solana’s Case: Speed, Costs, and Scale
The report highlights Solana’s high throughput and low transaction fees as advantages for handling assets that require rapid, high-volume movement—such as equities, exchange-traded funds (ETFs), and institutional funds. Within Solana’s ecosystem, approximately $272 million in tokenized stocks were circulating as of the 30-day period ending March 5, a 14% increase over that span.
Carchidi contends Solana would not need to dominate the tokenized assets market to see significant upside; given its proximity to XRP’s market capitalization at the time, even incremental gains could shift rankings in Solana’s favor.
XRP’s Edge: Built-In Compliance and Tokenized Treasuries
The XRP Ledger (XRPL) currently supports about $453 million in tokenized assets available for trading, with a stablecoin base near $432 million, according to the report. A sizable share of XRPL’s tradeable tokenized assets consists of U.S. Treasury bills and government bonds valued around $294 million.
While XRP also boasts speed and low fees, the analysis emphasizes its integrated compliance tooling as a differentiator for financial institutions. By leveraging XRPL’s compliance features, issuers of tokenized bonds, stocks, or other securities may avoid building regulatory frameworks from scratch—potentially drawing more institutional tokenization flows to XRP in the coming years.
Outlook and Recent Price Moves
Despite XRP’s institutional advantages, the report projects that Solana could ultimately surpass XRP in valuation over a longer horizon—potentially by 2030 and beyond—if Solana’s broader ecosystem ambitions materialize.
As of the report’s publication, Solana traded near $88.48, up 2.7% over 24 hours, while XRP traded around $1.43 after a roughly 5% daily gain. Market rankings and prices remain subject to rapid change.