Solana's SOL price surged above $240 for the first time since 2021, reflecting a strong bullish sentiment in the crypto markets. On November 18, SOL rose by 4.3% within 24 hours, outpacing the broader CoinDesk 20 Index, which saw a 1.6% increase. The spike coincides with Bitcoin's brief retreat to around $90,000 amid a period of market evaluation following a significant rally. Despite this, predictions suggest Bitcoin could reach as high as $200,000. The SOL/BTC ratio indicates potential continued outperformance of Solana against Bitcoin. Meanwhile, XRP also gained attention with its price exceeding $1.20 and derivative trading volumes hitting record levels, driven by optimism regarding regulatory conditions under a potential crypto-friendly administration. The growing liquidity and retail investor enthusiasm reflected in strong market metrics emphasize a significant phase of euphoria and optimism in the cryptocurrency landscape.

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