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"Solana Whales Eye Exit as Price Volatility Persists"

Coin WorldWednesday, Feb 5, 2025 4:01 pm ET

1min read

Solana's price has been volatile in recent weeks, with some experts warning of a potential crash. The cryptocurrency, which has surged 15x in a month, is now being eyed by whale investors who could potentially move funds away from it, leading to a significant drop in its value.

Solana's price is currently hovering around $200, but some analysts predict it could hit $400 if whale investors stop moving funds to other altcoins. However, the cryptocurrency's recent performance has been mixed, with a 13.55% drop over the past week and a 9.58% decrease over the past month. Despite these short-term losses, Solana has shown strong long-term potential, with a 21.85% increase over the past six months.

The Relative Strength Index (RSI) for Solana is currently at 46.09, indicating a neutral market sentiment. This suggests that the cryptocurrency is neither overbought nor oversold, leaving room for significant price movement. The nearest resistance level is $265, and if Solana breaks above this point, it could rise by about 13% from its current high. The nearest support level is $161.36, and a fall to this level would mean a decrease of roughly 12% from its current low.

Meanwhile, XRP, another popular cryptocurrency, has also seen a sharp price drop in the past week, falling by 20.43%. The current price ranges between $2.25 and $3.04. Despite this recent decline, the coin's price increased by 1.25% over the past month and surged by 270.51% in the last six months. The Relative Strength Index (RSI) for XRP is 45.12, suggesting that the coin is not currently overbought or oversold.

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Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.