Solana (SOL) Leads and Ripple (XRP) Prepares to Follow
$SOL and $XRP are altcoins with large communities that are ready for further price increases as altcoins try to usurp Bitcoin's dominance.
While Bitcoin is still leading the entire cryptocurrency market, several altcoins are performing better, and some are starting to form the price structure on which the next stage of price growth will be built.
Solana Has Reached the Resistance
The truly outstanding player of the entire cryptocurrency sector should be Solana. This is a tier 1 that aims to become a serious competitor to Ethereum, and with the development of the Firedancer validator client, which offers major improvements in performance, $SOL is being quickly bought by knowledgeable investors.
After an exciting rate of 73% in less than three weeks, the $SOL is really flying. As can be seen on the weekly chart above, the price has reached the top of the rising channel and is also encountering some resistance.
There's not a lot of room in the weekly Stochastic momentum indicator given that this is starting to peak. It seems that the next big obstacle for the $SOL price is here, and it is not yet known whether there is enough power to break the top of the channel (an extremely bullish move) or whether the price will be rejected.
$XRP Is Based on the Previous Price Structure
July May 2022, since XRP fell above the support of about $ 0.56, the price has risen to this level several times; there was a big rise in July of this year, but this level came down to earth again and fell back from support in the following weeks.
All these tests of this particular resistance have created a solid price structure, which XRP confirmed at the end of last week.
With such a solid price structure under it and breaking the rising bullish triangle, XRP looks ready to move into the next bull market stage. With such a large community behind it and now in a much fairer mood in terms of regulatory factors, $XRP may be one of the leading altcoins entering the tail of the Bitcoin-led bull market.
