So, the crypto world is again busy with its usual rollercoaster behaviour. XRP, today, is not as noisy as it’s been – it looks like the asset is powering down for the next major move. On the other hand, Solana (SOL) has recently experienced a small price increase and is currently up by more than 7% in the last few hours, while Ethereum (ETH) is hovering just above the $3,330 mark, getting ready for the next major test. Let me explain.
XRP: The Calm, The Cool and The Collected
XRP, the coin that is famous for its legal battles (thanks, SEC), is not quite in the mood. There are no price movements since that massive run – just a sideways trading. There are some analysts who think that XRP is currently in a consolidation phase which can often lead to a major price movement.
Watch Out For: The situation can change very quickly, especially if there are legal or regulatory changes that can either boost or undermine this asset. It may be calm but it might be the eye of the storm.
Solana (SOL) Fires Up
In Solana, things are looking up by 7% as usual as the meme coin craze is still hot. If you own SOL then you are in a good mood right now. The speed and the low fees still attract developers to create new projects and throw them into the marketplace as if there is no tomorrow. And that is something that keeps on boosting the demand for SOL coins.
Will Memes Continue Fueling the Pump?: It could be that is the case for some time to come. Memes are still absolutely on fire and with the US President launching a meme coin on Solana, it screams bullish for the chain.
Ethereum (ETH) Towards $3,330
ETH is currently trading close to $3,330 and is on the verge of what some refer to as a ‘resistance test.’ If it manages to stay above that level, we are likely to see fear of missing out (FOMO) emerge. If it rebounds, then…we are back to square one.
Factors in Play: Upgrade, stake and that sweet sweet defi fever? ETH still has a use case. However, do watch the broader market – if it sneezes, ETH may catch pneumonia. UGH c’mon ETH!!!!
What Does This Mean for the 100x Fam?
At 100x, we prefer volatility – where there is motion there is usually punishment or reward. A dull XRP can suddenly gain a lot of momentum. SOL pump may be the beginning of the next ascent (or the beginning of the rise and fall) and ETH at $3,330 may be the breakthrough or the barrier. In other words, if you like to ride the waves, there is no better time to keep your eyes on the charts.
Pro Tips:
- Don’t try to catch every rising chip.
- Keep some cash for those times when the market goes down.
- It can change the dynamics of the market in one day, so always keep your eyes on the regulatory or big partnership news.
- This is the crypto wild west, so expect to lose EVERYTHING!
Final Word
It’s a crypto jungle and that’s why we love it. Just remember: The calm can become the storm in an instant, and hype pumps can go bust just as quickly. So stay attentive, do your research, and hang on. If you are looking for safe and boring, this is not the place, but if you are ready to go 100x, welcome to the crypto wild west.
