With the crypto market showing signs of recovery, the spotlight is on two altcoins: XRP and Solana. With growing institutional interest and massive bullish sentiment on options, these assets could play a significant role in the next bull run. Are XRP and Solana must-haves in your portfolio already?
In recent weeks, cryptocurrencies XRP and Solana have attracted the attention of institutional investors, with record capital inflows. In August, incoming funds to XRP and Solana reached $307M and $388.80M respectively. For the year, these figures amount to $1.39 billion and $1.24 billion, demonstrating a sharply increasing institutional demand.
This trend can be partly explained by a capital rotation phenomenon. Investors are somewhat moving away from flagship assets like Bitcoin and Ethereum. They’re increasingly turning toward altcoins such as XRP and Solana. These are benefiting from sustained demand for exchange-traded products (ETFs).
The options trading volume for XRP and Solana has increased significantly in the past 24 hours. Traders have massively purchased short and long-term call options, while selling long-term put options.
For XRP, there are three times more call options than puts, with a ratio of 0.39. Data from options expiring on September 12 indicates a bullish perspective among traders, targeting levels of $2.9, $3, and even $3.5. The maximum pain price was at $2.90.
Similarly, Solana recorded four times more call options than puts, with a ratio of 0.24. Traders are targeting levels of $220, $228, and even $260, with the maximum pain price at $208.
These positive signals from capital flows and the bullish sentiment of options traders suggest an imminent rise in XRP and Solana prices. XRP is currently up 4% at $2.94, with trading volume surging by 170% over the last 24 hours. Solana has jumped more than 5% to reach $214.06, with volume up 115%.
Analysts believe these crypto assets could soon begin an exciting rally phase, driven by this growing enthusiasm from institutional investors and expert traders. One to watch closely in the coming weeks!
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