Jakarta, Pintu News – In recent months, Solana has shown superior performance compared to Ripple , with significant gains.
However, the question that arises now is whether Ripple (XRP) will start showing signs of recovery and catch up with Solana (SOL)? This analysis will delve deeper into the dynamics between these two cryptocurrencies and their potential future price movements.
Solana (SOL) has seen an increase of almost 90% since the beginning of April, while Ripple (XRP) has only registered a gain of 46.5%. The current SOL/XRP ratio is $76.01, which means it takes 76.01 XRP to buy one SOL. This shows the strong dominance of Solana (SOL) in recent months. In addition, the number of daily active addresses of Solana (SOL) increased by almost 12% per month, while Ripple (XRP) decreased by 6.8%.
Solana (SOL) has reached a known technical resistance point, which may signal a change in momentum. Back in February, Ripple (XRP) experienced a significant price spike, which caused the SOL/XRP ratio to drop dramatically. This raises the question of whether the recent increase in the value of Solana (SOL) will turn into an advantage for Ripple (XRP).
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Solana (SOL) started the Second Quarter with a strong recovery after experiencing a sharp decline in the First Quarter. Solana’s (SOL) multi-year low price was recorded at $95 on April 8, representing a decline of about 35% from the opening $190. On the other hand, Ripple (XRP) managed to maintain its stability with a modest gain of 2.45% from $2.08.
Solana (SOL)’s sharp rise in the Second Quarter has not shown any signs of overheating. Open Interest (OI) for Solana (SOL) has increased by 4.45% to $7.4 billion, signaling strong market confidence. However, Ripple (XRP) is still lagging behind with an OI of only 2.01%. If this trend continues, Solana (SOL) may continue to dominate investor attention.
Ripple (XRP) may need an adjustment to attract investor interest again. History has shown that sometimes it takes a price drop to trigger a new rally. Therefore, the next big move for Ripple (XRP) may depend on its ability to experience a healthy “dip”.
Taking into account the current market dynamics and technical analysis, investors and market watchers should pay attention to key indicators and news that may affect these two cryptocurrencies. Ripple (XRP) may have a chance to recover its position if it can capitalize on the right market conditions.
Although Solana (SOL) has shown remarkable performance in recent months, Ripple (XRP) has the potential to make a comeback if market conditions are favorable. Investors should remain vigilant and conduct in-depth analysis before making investment decisions in this highly volatile market.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.