Bitcoin on Friday $54,380.21 The drop below $55,000 in September has raised concerns that a longer correction could occur. While this could shake speculative investors, smart investors can use this opportunity to accumulate leading altcoins like XRP and Solana. Solana and XRP in particular are important for investors in diversified portfolios.
Solana Price Drop and Market Reaction
Solana’s native cryptocurrency, SOL, has seen a significant drop in value over the past two weeks. The price has fallen by 22%, from $162 to $127. This loss of value is thought to be related to Solana’s decreased revenue and volume. The decrease in memecoin interest in the market has negatively impacted trading volume on Solana. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
Some analysts suggest that Tron’s “Sun Pump” meme platform is pulling users from Solana’s popular Pumpfun platform. However, Pumpfun still generates between $300,000 and $400,000 in daily revenue, while Sun Pump only sees a small fraction of that volume. Therefore, Pumpfun’s dominant position in the industry could help SOL price recover.
Solana is currently trading at $127.4, with a market cap of around $59.5 billion. Since mid-August, there has been a significant increase in active addresses on the Solana chain. The number of active addresses has increased by 180%, from 982,500 to 2.75 million. This indicates growing interaction and demand on the Solana network.
XRP Legal Issues and Price Consolidation
XRP is currently trading at $0.53, signaling a 6.5% weekly consolidation. Ripple 
$0.529096 The cryptocurrency has been trending sideways since January 2022 and has failed to make the expected rise despite the recent agreement with the SEC.
The uncertainty among investors may be due to the delay in the final payment of $125 million between Ripple and the SEC. According to attorney Fred Rispoli, Ripple and the SEC have agreed to secure 111% of that amount. This amount will be paid 30 days after the objection period expires or if an objection decision is made.
Fred Rispoli: “While this does not mean that an objection is certain, it does increase the likelihood of an objection.”
However, data from Santiment shows that interest from large investors holding XRP is increasing. Investors holding between 100 million and 1 billion XRP have accumulated 9.56 billion XRP. Such large purchases usually improve market sentiment and coincide with the end of a downtrend.
Opportunities for Investors
Both XRP and Solana present attractive opportunities for long-term investors. Despite the sharp decline in the last two weeks, Solana has the potential to recover its price thanks to the growing number of active addresses and trading volume on the Pumpfun platform. On the other hand, XRP could gain value with the interest of large investors despite the ongoing legal uncertainty with the SEC.
Investors can evaluate Solana for a dynamic movement in the short term. In the long term, it can be observed that XRP continues to offer an attractive value due to legal challenges. These two altcoins are among the important options for those who want to make investments resistant to volatility in the crypto market.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
