Ethereum and XRP, targeting a simultaneous rally... Who will claim May's throne?

▲ Ethereum (ETH), XRP (XRP)/ChatGPT generated image

Ethereum (ETH), aiming to replicate its historical strength in May, and XRP, eyeing a major rebound due to legislative tailwinds, are signaling a fierce competition for the top spot in the 2026 cryptocurrency market.

According to a report by cryptocurrency media outlet 24/7 Wall Street on May 4 (local time), last week, XRP and Solana (SOL) both fell by 3%, recording $1.39 and $83 respectively. Ethereum closed down 1% at $2,300. 24/7 Wall Street analyzed which of the three assets is the most promising for investors. Ethereum has consistently shown strong returns, closing higher in May in 6 out of the past 9 years. Notably, in May 2017, it achieved a remarkable 161% gain.

XRP's performance is highly volatile but demonstrates explosive power at critical moments. In May 2017, it surged by 378%, but it has also experienced significant declines when the market cooled. XRP's price movement is closely tied to specific events, such as regulatory clarity. Solana performed well when ecosystem activity was robust, rising 30.5% in 2024, but it tends to follow the overall market trend rather than creating its own upward momentum.

The variable XRP investors are most focused on is the progress of the U.S. cryptocurrency market structure bill (CLARITY Act). Senators Cynthia Lummis and Thom Tillis are urging Senate Banking Committee Chairman Tim Scott to finalize a vote date for the bill's amendment. If a schedule is set by the second week of May, XRP's price could recover to $2 and set the stage to advance towards its cycle high of $3.65 recorded in 2025.

Solana is expanding its real-world use case by opening up stablecoin transactions to 28 million card members through a partnership with Shinhan Card. Solana's on-chain real-world asset volume has reached an all-time high of $2.5 billion. Ethereum is receiving strong institutional support, with $356 million flowing into Ethereum spot ETFs throughout April, followed by an additional $101 million in early May. Anticipation for the Glamsterdam upgrade, scheduled for the first half of 2026, is also a powerful factor that could push the price to $3,000.

In terms of historical return stability, Ethereum, which does not rely on specific events, is in the most advantageous position. If the U.S. cryptocurrency market structure bill passes, XRP is expected to achieve the most dominant short-term returns. Solana needs to reclaim the $100 mark through expanded partnerships to enter a full-fledged upward trajectory. Market experts emphasized that technical upgrades and the inflow of institutional funds to overcome May's external pressures are key variables that will widen the future return gap.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*