Prices of the Solana, Polygon, Ripple and Monero

Ever since EUR lost value against USD, analyses of crypto prices in euros have also become interesting: today we will analyze Solana, Polygon, Ripple and Monero.  

A year ago 1 euro was still worth more than $1.15, while now it is worth less than $1. Given that the descent started from $1.24 in January 2021 this was a decidedly major collapse, with repercussions on all European financial markets. 

The euro-denominated Solana, Polygon, Ripple and Monero crypto in detail

Solana (SOL)

Recently, the price of SOL, which is the cryptocurrency native to the Solana blockchain, has had some problems. 

Indeed, in the past seven days, it has lost 14.5%, falling from €33.2 to €28.2. 

However, until Saturday 5 November, it was on the rise, as it had risen as high as 38.1€ thanks to some good news, but once the good news was over, the price was back to where this brief growth started. Then, due to the general decline in the crypto markets, it lost another 10%. 

It is worth noting that the current price is not only 87% lower than it was twelve months ago, it is also well below the €87 it was before the implosion of the Terra ecosystem in May. 

Indeed, the cryptocurrency has even dropped out of the top ten by market capitalization, even after it looked like it might even challenge BNB for third place last year. Today it ranks 11th with just over 10 billion, just behind Polygon. 

Polygon (MATIC)

By contrast, the price of Polygon‘s MATIC token is bucking the trend. 

In fact, it has even gained 26% over the past seven days, thanks to increased usage. 

Even more interesting is the comparison with past data. 

While the current price of €1.1 is still 55% lower than the high it made in December last year, it is still only 30% lower than it was twelve months ago. 

More importantly, it is higher than what it was before the implosion of the Terra ecosystem in May. 

Actually, 2022 began with a price level of around €2.2, which is twice as high as it is now, but if we exclude the last big speculative bubble inflated from October 2021, the current price is now in line with the pre-bubble price. It is as if from the price in October 2021, it first rose to €2.5 and then fell to €0.3 and returned exactly where it started, at €1.1. 

In other words, SOL has lost nothing since the pre-bubble period, although in the meantime it went up a lot and then down a lot. The last major bounce back to the pre-bubble level began on 4 November, after an initial strong bounce between late June and July. 

Right now Polygon is one of the most performing cryptocurrencies, not least because its recent success does not seem to be due to speculation, but to real use. 

Indeed, Polygon is the most widely used second layer for Ethereum, especially for NFT trading. 

Ripple (XRP)

The argument is markedly different for XRP, which is Ripple‘s cryptocurrency. 

Although it remains in seventh place overall by market capitalization, it appears to be down 6% in the last seven days, and 17% in the last thirty. 

In September it seemed to be headed for a full-bodied recovery, thanks to positive rumors regarding the lawsuit against the SEC. These rumors, however, have since effectively stopped, and the September enthusiasm has dissipated. 

In August, the price of XRP was just over €0.3, while during September it rose as high as €0.55. In the first days of October, it had managed to hold this level, but starting on 11 October it began to fall a bit. 

The current level of €0.44 is well above August’s €0.3, but lower than last month’s €0.55. 

It is also still 84% lower than the January 2018 highs. 

However, it is worth mentioning that thanks to the September jump it has at least already almost recovered the levels of early May, when it was just below $0.6. Indeed, by October it had practically managed to return to shares similar to those before the implosion of the Terra ecosystem, but then failed to hold them. 

It is worth noting that it was at 0.73 at the beginning of the year, so it has lost almost 40% since then. 

Still, XRP turns out to be among the top cryptocurrencies one of those that lost the least in 2022, but it should not be forgotten that in 2021 it failed to even come close to the historical price record of four and a half years ago. 

Monero (XMR)

The price trend of XMR, which is the cryptocurrency native to the Monero blockchain, is different. 

It is a cryptocurrency with significantly lower market capitalization than its predecessors, as with 2.6 billion, it is only ranked 29th. In addition, just like XRP during 2021, it has not managed to exceed the previous all-time high of January 2018. 

However, from that €454, it is losing “only” 68%, which is much less than Solana and Ripple (Polygon from this point of view is an exception). 

Its current price level of about €146 is only 3% lower than both seven days ago and thirty days ago. 

In other words, XMR’s price is less volatile in both the medium and long term than that of other cryptocurrencies, and this tends to keep speculators, who are mainly interested instead in high volatility, somewhat at bay. 

Monero is to date the leading high-privacy cryptocurrency, thus with a specific use that shows no signs of diminishing over time. 

It is enough to consider that the current average volume of transactions recorded daily on its blockchain is perfectly in line with that of early 2021, mid-2021, and early 2022. It is also clearly up from the previous two years 2019-2020. 

So about two years ago its usage grew, but then remained stable. As a consequence, the price of XMR also tends to move with less amplitude. 

For example, in mid-December last year it was worth less than €170, which is not much more than the current €146. On the contrary, the current price is higher than in February 2022, and since mid-July it has substantially varied little, always hovering around €150.