Solana Surges Ahead of Upgrades as XRP and Zcash Face Rebalancing Pressure
The end of September is crucial for XRP, Solana, and Zcash as two out of three major cryptocurrencies are set to receive network upgrades before the quarter ends on September 30. These upgrades could push prices in different directions due to the quarter-end rebalancing pressure.
XRP has risen 19.78% this week, but its recent surge only reverses losses incurred following a Senate vote on September 15. The price of XRP is currently at $1.57, and it's down 16.48% from its December 31 closing price of $1.84. The activation of the Batch amendment on the XRP Ledger, which allows multiple transactions to settle simultaneously or fail together, is set for September 29.
Solana stands out as the only one of the three coins that has gained in every recent evaluation period. Its price rose 23.10% this week and 24.90% for the month. The Solana upgrade, named Alpenglow, is designed to improve how validators agree on each block, reducing transaction finality from about 12.8 seconds to roughly 150 milliseconds.
Zcash has already made exceptional gains without any upcoming events. Its price surged 32.34% this week and 71.62% for the month. However, its recent surge may lead to a significant pullback if expectations are not met, especially as funds start rebalancing at quarter-end.