Bitcoin better than Solana and XRP, or not?

Bitcoin

Bitcoin better than Solana and XRP, or not？

In the last 24 hours, the price trend of Solana and XRP experienced a slight decline, while that of Bitcoin did not.

It might seem that Bitcoin is outperforming Solana and XRP, but upon closer analysis, the situation becomes more complex, leading to the assertion that things are slightly different.

The performance of Bitcoin compared to Solana and XRP

First of all, it should be noted that in the last 24 hours, the price of Bitcoinhas hardly moved, also because in the crypto markets a +0.4% is considered irrelevant, as it is extremely common.

In reality, however, the situation of Bitcoin changed last Thursday, so it is worth considering in particular the movement over the last seven days, equal to +4.6%.

It is also noteworthy that in the last thirty days it has decreased by 1%, but around mid-August it had recorded all-time highs. Compared to the all-time highs, it is currently at -7%, and compared to the beginning of the year, it is only at +24%.

The point is that starting from last Thursday, it has consistently remained above $113,000, but it has not shown the strength to aim again for $112,000.

In fact, it hasnt even managed to reach $117,000 yet, although the current hovering around $116,000 should still be considered decidedly excellent.

It is possible that it lacks a bit of momentum to start a new bull run, and climb back above $120,000 in search of new highs, and there might also be an explanation.

In fact, both the US stock markets and gold are at their peaks, and this may have attracted capital to traditional markets at the expense of crypto markets. Should the rally in the US stock markets, and especially in gold, come to an end, it will be very interesting to see if there will be a capital flight, even a small one, from traditional markets to crypto markets.

The selling pressure of BTC on crypto exchanges remains near the lows of the current cycle, therefore, in the event of a significant increase in buying pressure, there could be a new price rally.

The Trend of Slana

The price of Solana has dropped by 2.4% in the last 24 hours.

In other words, it is underperforming Bitcoin.

However, with Solana, a broader discussion is necessary because things are definitely more interesting than they seem.

First of all, in the last seven days it is at +16%, so it is actually still outperforming Bitcoin by a lot, especially since last Thursday.

Additionally, in the last thirty days, the gain rises to 28%. However, it is at -18% from the all-time high, and only at +27% since the beginning of the year.

The fact is that after the January boom, when it reached the new all-time high above $290, there was a strong correction that lasted until April.

Already at the end of April, however, there was a first rebound, followed by a second one in July.

In August, a third rebound began that might even still be ongoing.

This third rebound started just above $160, and in just over a month it brought the price above $242. It is a decidedly substantial rebound, but since the previous ones lasted more or less the same amount of time, there is a possibility that it is about to end.

The decline in the last 24 hours is not even remotely sufficient to claim that the rebound is over, however, it adds to the fact that the previous two had also lasted just over a month.

XRP Price Analysis

XRP loses almost 2% since yesterday.

However, it is at +5% over the last seven days.

In other words, it is actually performing more or less like Bitcoin in recent days, although with slightly different timing.

In fact, in the last thirty days it has lost 2.4%, in line with Bitcoin, while since the beginning of the year it is up 45%, significantly more than BTC.

It should be noted, however, that it is still at -21% from the all-time highs recorded in January 2018, so in the long term it is performing significantly worse than Bitcoin.

The price trend of XRP over time tends to be generally much more stable than Bitcoin or Solana, so much so that this year, after surpassing $2 in December 2024, it has practically never fallen below this threshold, except for a very brief moment.

In fact, since January it has been moving sideways within a wide range precisely between $2 and $3.5, although until June it had almost always moved sideways below $3, while from July onwards the sideways movement shifted to a higher range between $2.7 and $3.5.

Tendentially, excluding bubbles or mono-bubbles, the price of XRP moves in cycles, alternating between periods of lateralization and other periods of lateralization within higher or lower ranges. Only bubbles, or mini-bubbles, occasionally give it real jolts.