Solana Surges Ahead of XRP with 90% Price Jump
Key Takeaways
- Solana (SOL) has significantly outperformed XRP over the past two months.
- The SOL/XRP ratio rose by nearly 40% to 76.01.
- XRP may be poised for a technical rebound – a pullback could set the stage for it.
- Solana is showing strong market activity with rising open interest and user numbers.
Solana Pulls Ahead of XRP – For Now
In recent weeks, Solana (SOL) has performed noticeably better than XRP. Since early April, SOL has gained approximately 90%, while XRP has increased by 46.5% in the same period. The ratio between the two coins – measured by the SOL/XRP pair – rose by nearly 40% to 76.01. That means you currently need around 76 XRP to buy one SOL.
Another indicator of growing interest in Solana is blockchain activity. The number of daily active addresses rose by nearly 12% month-over-month. In contrast, XRP saw a 6.8% decline in this metric, indicating that users are increasingly turning to Solana.
Technical Resistance Could Trigger a Trend Reversal
The current price ratio between SOL and XRP is approaching a known resistance level from February. At that time, XRP rose from $2.34 to $2.83 within a week – a 21% gain. As a result, the SOL/XRP ratio dropped by 25%.
This historical movement raises the question: Was Solana’s weakness at the time the trigger for XRP’s surge, or was it due to XRP’s own strength? The answer could be crucial for the next moves of both coins.
Solana’s Comeback as a Blueprint for XRP?
Solana had a weak start to the second quarter. On April 8, its price fell to a multi-year low of $95 – a 35% drop from the beginning of the quarter. Since then, however, the price has rebounded strongly. With a nearly 90% increase, Solana has clearly benefited from being oversold.
By comparison, XRP had a stable first quarter. Its price rose by 2.45%, showing resilience. However, this stability could now work against XRP. Without a significant pullback, the momentum for a new upward move may be lacking.
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Market Data Favour Solana
A look at open interest (OI) – the total value of open derivative contracts – also paints a clear picture: Solana’s OI recently rose by 4.45% to $7.4 billion. XRP’s OI increase was only 2.01%. This suggests stronger market interest in Solana.
As long as this trend continues, Solana is likely to stay ahead of XRP. For XRP, a healthy pullback may be necessary to attract new capital and potentially spark a rally.
Our Assessment
Currently, much points in favour of Solana: rising user numbers, strong market activity, and a robust price increase. While XRP remains stable, it is losing relative strength. A pullback in XRP could, however, lay the foundation for a new upward trend – similar to Solana’s comeback after its April low.
If you’re invested in XRP, it’s worth closely monitoring technical levels and market behaviour. Should XRP find support again and market sentiment shift, a recovery could follow. Until then, Solana remains the frontrunner in this head-to-head comparison.
Sources
- TradingView
| Symbol | XRP |
| Coin type | Alt Coin |
| Transaction Speed | High |
| Pros |
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| Cons |
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| Further practical applications | |
| Price | 2.25 |
| 24h % | -3.86 % |
| 7d % | -4.16 % |
| 30d % | -1.33 % |
| 60d % | 6.45 % |
| 1y % | 328.43 % |
| Official Links | Website |
| Socials | X |
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