Solana ($SOL )
{spot}(SOLUSDT)
is approaching a pivotal resistance zone, with analysts suggesting that a breakout above $200 could propel the price toward $350. Despite a recent pullback—currently trading around $166—market sentiment remains bullish.
After a sharp surge last week, Solana's price consolidated between $165 and $175. Today, SOL is down 2% amid a broader crypto market sell-off, slipping below $170. Following a rejection at the $185 resistance, Solana has corrected nearly 10%. However, on-chain data indicates the potential for a strong upside.
Market analysts are optimistic that if SOL surpasses the critical $200 resistance, the next major target of $350 could be achieved swiftly. This outlook is supported by steady futures trading volumes, which remain at $6.5 billion, and a 20% increase in Solana's blockchain GDP to $1.2 billion in Q1 2025. Additionally, the stablecoin market cap on Solana has surged by 145% to $12.5 billion.
While the path to $350 is contingent on overcoming key resistance levels, the current indicators suggest that Solana is poised for significant growth, provided it can maintain momentum and break through the $200 threshold.
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If Ripple’s RLUSD stablecoin were to grow to 50% of Tether’s current $150B market cap, reaching $75B, the price of XRP could potentially surge to around $4. This projection is based on a significant increase in utility and demand within Ripple’s ecosystem, driven by institutional adoption and macro-level regulatory support.
A major catalyst for this scenario is the GENIUS Act, currently advancing in the U.S. Senate. The act aims to provide regulatory clarity and encourage the development of U.S.-based stablecoins like RLUSD. If passed, it could remove major barriers to adoption and significantly boost investor confidence.
RLUSD currently sits at a modest $313 million market cap, so achieving a $75 billion valuation would require massive growth. Still, Ripple’s established infrastructure, strong presence in compliance-focused markets, and growing global partnerships position it well to seize this opportunity.
Meanwhile, XRP has shown technical strength, recently breaking out of a falling wedge pattern—often a bullish signal. With favorable legal and market conditions aligning, XRP may be gearing up for a major move.
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I'm watching $DEGO slow down after that run to $1.86. Momentum’s fading, and I’m seeing red candles stack near resistance.
If $1.80 holds, I’m eyeing a bounce. If it breaks, I’m stepping back—$1.74 or even $1.70 could be next.
My Plays:
Bullish: In at $1.76–$1.78, out at $1.85–$1.90. SL: $1.69
Pullback: Short at $1.80–$1.82, target $1.75–$1.70. SL: $1.865
No rush. I’m letting price speak.
{spot}(DEGOUSDT)
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