Performance Analysis for SOL, ADA, and XRP

In the past 7-days, Solana (SOL) has performed better than the rest of the cryptocurrencies that are in higher ranks than its own. The data collected from CoinMarketCap surrounding Solana shows that in the past 7-days, its price has observed a 5.20% rally. On the other hand, its price has experienced a slight boost worth 0.57% in the past 24-hours.

Compared to BTC, ETH, and BNB that rank higher than SOL, its performance is better than three major cryptocurrencies. Currently securing a valuation worth over $56.21 billion, Solana currently ranks as the 4th largest cryptocurrency.

As of now, SOL’s price is at $182.40, and the trading volume for SOL in the past 24-hours has been down by 18.05%, coming down to $1.58 billion. It suggests that as of now, the trading volume for SOL is in the bright zone. The negative figure in the trading volume for SOL suggests that bulls currently have control over the cryptocurrency market.

They are currently holding onto SOL in order to strengthen their position and not let the bears take over SOL. In the upcoming days, the bulls may try and push SOL’s price over $197.50, which is the strong resistance point for SOL. If the bulls manage to cross the particular figure, they may be able to push its price over the $200 mark.

The fifth-largest cryptocurrency with over $43.09 billion valuations is Cardano (ADA). Compared to Solana, ADA hasn’t performed much, which means that it is currently experiencing a downtrend. Despite picking up the pace by 1.89% in the past 24-hours, Cardano’s price has plunged by 6.98% in the past 7-days.

At the time of writing, ADA’s price is at $1.26, and the trading volume it has recorded in the past 24-hours is up by 0.32% ($1.18 billion). This means that there is buying for ADA on the lower level. Still, the bulls are trying to keep a low profile and are slowly building upon their momentum.

For now, it is the bears that have control over ADA’s trend and they may launch their attack with low-level sales to balance the attempts from the bulls’ end. They may try to keep ADA in the same bearish zone and pull its price below the $1.20 per ADA mark by increasing their sales for ADA.

The sixth-largest cryptocurrency with over $39.20 billion capitalizations is XRP (XRP). In the past 24-hours, XRP’s price has experienced an increase worth 1.34% bringing its price up to $0.8323. However, XRP’s price has plunged by 0.84% in the past 7-days.

XRP’s trading volume is down by 22.22% in the past 24-hours, which means that the bears are not making a move to bring its price lower. This may give an opportunity to the bulls to increase their XRP buying and push its price higher and bring it closer to the $1.00 price.