Solana (SOL) and Ripple’s XRP have been fighting for the top spot. Recently, SOL took over XRP as the fourth-largest cryptocurrency. It should be noted that XRP recorded a monthly rise of over 280%, while Solana’s yearly spike was 200%. The former has clearly stepped up its game. But SOL’s surge to a new all-time high left the community satisfied. The asset is expected to expand its abilities and reach a high of $300 before the new year begins.

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Solana’s Recent Plunge

The overall market crash pushed the price of Solana even lower. The altcoin went from trading at a high of $231 earlier today to a low of $208. This sudden downfall was part of the correction the entire ecosystem is experiencing. At press time, Solana was trading at $216.67 after dropping by 4.55% over the past 24 hours.

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The daily trading volume of Solana was certainly rising despite the drop in the asset’s price. Over the last 24 hours, SOL’s volume has surged by 150%, currently at $9.63 billion. In addition, the overall market sentiment seemed to be bullish.

According to CoinMarketCap’s “Community Sentiment,” about 86% of 175.1K votes were optimistic about a potential price spike in the SOL market, while 14% were bearish.

Year-End Price Prediction

According to data from CoinCodex, Solana is anticipated to trade between $215.73 and $204.25 at the end of the year. The firm revealed that the average price was $222.46 for December. This would further mean that the cost of SOL rose by 3.10% from today’s pricing. In other words, assuming SOL makes the forecast, investors may make a potential profit of 11.35%. Currently, SOL is trading 17% below its all-time high of $263.83.

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