Lohengrin
--
I recently posted a news story about $XRP and mentioned $SOL in passing because it seemed to me that they were involved in similar movements.
However, there was one comment that caught my attention: it said something like "nobody remembers when SOL was worth $5."
This made me think that many people focus on the "price" of something and not on the "movement" of something.
I don't know the financial and trading world very well (I'm not that interested either, because of my ideology and so on), but my ideology forces me to be rational in all aspects. That's why I think that "price" is not something rational and, therefore, it is not an indicator that something is really valuable. But more importantly, it doesn't tell you anything about what an asset does in the market.
I see XRP and SOL and I see two very similar trends currently. Not the same, similar.
If I focus on the differences (monthly chart) I would say that XRP is very bought and logic would say that there has to be a correction. And SOL, although it is rising, has not yet had a surge like XRP did.
The news was talking about the XRP ETF (something that is also (asking for SOLANA).
If you look at the monthly chart of XRP, how much higher can XRP and SOL go, with the influence that an ETF approval can have at the end of the year?
I see Solana, after one or another rise, trying a range of months, which I will call "40 years in the desert", to jump with the rumor and sell with the news in Oct, Nov or Dec.
I see XRP going to look for liquidity in the depths at some point before trying again for a new high with that ETF announcement.
However, there was one comment that caught my attention: it said something like "nobody remembers when SOL was worth $5."
This made me think that many people focus on the "price" of something and not on the "movement" of something.
I don't know the financial and trading world very well (I'm not that interested either, because of my ideology and so on), but my ideology forces me to be rational in all aspects. That's why I think that "price" is not something rational and, therefore, it is not an indicator that something is really valuable. But more importantly, it doesn't tell you anything about what an asset does in the market.
I see XRP and SOL and I see two very similar trends currently. Not the same, similar.
If I focus on the differences (monthly chart) I would say that XRP is very bought and logic would say that there has to be a correction. And SOL, although it is rising, has not yet had a surge like XRP did.
The news was talking about the XRP ETF (something that is also (asking for SOLANA).
If you look at the monthly chart of XRP, how much higher can XRP and SOL go, with the influence that an ETF approval can have at the end of the year?
I see Solana, after one or another rise, trying a range of months, which I will call "40 years in the desert", to jump with the rumor and sell with the news in Oct, Nov or Dec.
I see XRP going to look for liquidity in the depths at some point before trying again for a new high with that ETF announcement.
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