After weeks of trading in the bearish zone, Ripple (XRP) and Solana (SOL) have been saved by some big news.

The recent victory scored by Ripple in its SEC case helped the price of XRP recover above the $0.4800 support level, positioning it for a greater price increase.

Solana (SOL) and Ripple (XRP) prices soared this week after some key positive developments. XRP price rose above the crucial support at $0.4800, following the recent victory of Ripple in its SEC case, while SOL price recovered above $150 after 21 Shares filed for a Solana ETF. However, these gains pale in comparison to the massive 160% price increase recorded by KangaMoon (KANG).

Solana (SOL) ETF Filings Boost Price Recovery from $140

After VanEck filed for a Solana ETF earlier this year, 21 Shares has also filed for the second solana ETF. This news helped the SOL price finally recover from the lower levels of $140 after weeks of consolidation. Speculations that solana could be the second altcoin to get an ETF boosted the solana price for the first time. Solana price is now trading around the $150 levels once again with a 12% rise in the last one week.

Solana price is now trading above the 200-day Simple Moving Average (SMA) once again and it can break the 50-day SMA in the subsequent days, suggesting an increase above $180 could happen soon. A bullish crossover on the Relative Strength Index (RSI) also suggests that the solana price is set for a 50% increase from the current trading price.

Solana (SOL) Price Chart - SOL Price Set for 50% Increase from Current Levels of $150

KangaMoon (KANG) Emerges Biggest Gainer, Market Cap Crosses $100M

Among the top gainers in the market this week is KangaMoon, rising by more than 160%, according to data from CoinMarketCap. The price of KangaMoon crossed the $0.10 support level, while its market cap crossed $100 million.

KangaMoon is rapidly gaining traction in the crypto market because of its hybrid SocialFi platform that merges meme coins with P2E gaming and a social rewards system. The platform quickly onboarded over 32k users because it gives them a chance to earn good passive income by competing in several challenges and competitions.

Moreover, the SocialFi aspect of KangaMoon gives the users the chance to earn rewards by engaging and contributing to the project’s awareness on different social media platforms. The higher the engagement of a user, the more their rewards. KangaMoon was a top ICO project, raising over $8 million, as industry experts stated that this SocialFi concept could change the meme coin space.

The game of KangaMoon will be releasing in the next few weeks increasing the potential for increase of the project. While KangaMoon now trades at around $0.10, the launch will help the token skyrocket above $1, making now the best time to buy KANG tokens.

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