XRP is gaining traction, pulling ahead of Solana (SOL) in terms of change in realized cap, a metric that takes into account the price at which each coin was last moved, crucial for estimating the global wealth stored in the asset.

According to blockchain analytics firm Glassnode, XRP’s 30-day percentage change in Realized Cap has hit +4.2%, far outpacing Solana’s modest +1% gain.

The outperformance, according to Glassnode, might imply that capital is rotating faster into XRP, signaling renewed short-term conviction from investors and traders alike.

While Solana has recently enjoyed attention due to the potential of a spot ETF and consistent developer growth, the current on-chain data reveals that XRP is quietly regaining favor among market participants. The relatively flat +1% growth in SOL’s realized cap suggests a pause or consolidation in momentum, while XRP’s rise might signal that traders are increasingly betting on XRP’s upside in the short term.

XRP, SOL: What's happening?

XRP, which is now trading around $2.13, is gaining attention for its increasing inclusion in corporate treasuries. Webus International ($300 million), VivoPower ($121 million) and Wellgistics ($50 million) have together set aside more than $470 million in XRP for treasury strategies.

The most recent announcement comes from Trident, a Nasdaq-listed software company based in Singapore, which intends to raise $500 million for its XRP treasury strategy.

In separate XRP news, the SEC and Ripple have jointly filed a motion to dissolve the injunction in their case and discharge the $125 million civil penalty.

Solana, meanwhile, has recently benefited from solid network fundamentals and ETF optimism. SOL is down for the third day in a row, following a five-day gain that peaked at $168 on June 11.

At press time, SOL was down 9.45% in the last 24 hours to $145 amid a broader market sell-off that had resulted in $1.18 billion in liquidations.