XRP and Solana Surge Amid Institutional Buying and Options Activity
- XRP price increased by 4% to $2.94, with a trading volume surge of nearly 170% in the last day.
- Solana’s price rose over 5% to $214.06, with trading volume up by approximately 115% in the same period.
- XRP options trading saw a put-call ratio of just 0.39, indicating strong bullish sentiment among traders.
- In Solana, the put-call ratio was even lower at 0.24, reflecting heightened optimism for upcoming options expiries.
- Institutional interest is shifting from Bitcoin and Ethereum towards altcoins like XRP and Solana due to ETF applications.
The recent uptick in prices for both XRP and Solana is attributed to renewed institutional interest and significant options trading activity, which suggests a bullish outlook among market participants.
With XRP targeting levels of $2.90 to $3.50 and Solana aiming for $220 to $260 in upcoming options expiries, the market remains optimistic about these altcoins’ potential growth.(Source)
