Solana (SOL), currently ranked seventh by market capitalization at roughly $50 billion, could eventually overtake XRP (XRP) in valuation as both networks compete to dominate the tokenization of real-world assets, according to a Tuesday report from The Motley Fool analyst Alex Carchidi.
What Happened: Tokenization Race Heats Up
XRP holds an edge in market cap at approximately $87 billion, but the gap may narrow as both projects pursue the same prize — becoming the go-to infrastructure for trading tokenized stocks, bonds, and commodities on-chain.
Carchidi argues that Solana's speed and low transaction costs make it well-positioned for high-volume asset movement. The platform already hosts around $272 million in tokenized stocks, a figure that rose 14% in the 30 days ending Mar. 5.
The broader opportunity is significant. Projections cited in the report estimate the total market for tokenized stocks could grow from roughly $1 billion today to more than $38 billion by 2035.
Solana's ambition is to serve as a round-the-clock hub for trading equities, ETFs, and institutional funds at minimal cost. Carchidi contends it wouldn't need to capture the entire market to gain ground — its valuation is close enough to XRP's that even a modest shift in market share could tip the balance.
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Why It Matters: Infrastructure Advantages Diverge
The XRP Ledger holds roughly $453 million in tradeable tokenized assets, including about $294 million in U.S. Treasury bills and government bonds. Its stablecoin base stands at approximately $432 million.
Carchidi notes that XRP's built-in compliance framework gives it an advantage with financial institutions that want to tokenize securities without building regulatory infrastructure from scratch. That could attract more institutional capital in the near term.
Still, the analyst concludes that Solana would likely surpass XRP in valuation by 2030 or later, driven by its plans for a broader ecosystem. At the time of writing, SOL traded at roughly $86.31, up 1.1% over 24 hours, while XRP was at $1.37, up nearly 2% in the same period.
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