- Ah, a trader of some renown has prophesied that SOL may outshine XRP by a dazzling 2x. How quaint! 🌟
- The MVRV metric, that fickle friend, suggests SOL has ample room for growth before it decides to take a nap. 💤
In the grand theatre of cryptocurrency, the illustrious Peter Brandt has declared that Solana [SOL] may indeed offer returns more splendid than those of Ripple [XRP] in the mid- to long-term, among the pantheon of large-cap altcoins. How delightful! 🎭
In a recent missive on X (formerly Twitter, because who doesn’t love a rebranding?), Brandt’s crystal ball revealed that XRP has broken free from a descending triangle, potentially reaching $4.4, which would be an extra 87% gain from its current $2.3. A veritable feast for the eyes! 🍽️
But lo! For SOL, the trader’s keen analysis unveiled a bullish cup and handle pattern. A breakout from this charming formation may catapult SOL to a staggering $518, or a delightful 195% from its current $177 price level. Can you hear the cash registers ringing? 💰
If this prophecy holds true, SOL may indeed outpace XRP by a factor of over 2. But, dear reader, do the current valuations and accumulation of SOL support this optimistic outlook? One can only ponder! 🤔
MVRV: The Crystal Ball of Extra Growth for SOL
Historically, the MVRV, that whimsical valuation indicator, has marked SOL’s past local peaks and cycle tops when it flirted with 2-2.5 or above 3.5. In 2021, it reached a dizzying height of $260, and MVRV soared above 3.5. Quite the spectacle! 🎢
In early 2024, at a local peak of $200, MVRV surged above 2.5. For the late November and January 2025 peaks ($295), SOL’s MVRV tapped a modest 2. How charmingly predictable! 📈
If history is to be our guide, SOL may very well reach another local peak when the metric dances to 2 or 2.5, and hit a cycle top if it extends above a 3.5 reading. How thrilling! 🎉
The current MVRV value stands at a humble 1.2, indicating there is indeed extra growth before we reach the lofty heights of 2/2.5 or 3.5. Patience, dear investors! ⏳
On the front of address activity, wallets boasting over 1K SOL have shown a positively delightful correlation to the price action of our beloved altcoin. How charmingly predictable! 👜
Since March, the number of wallets with over 1K SOL has risen from 21.6K to 23K. This steady rise suggests a sustained market accumulation and a potential rally. But beware, a decline may complicate our bullish dreams! 😱
In conclusion, Brandt’s forecast and on-chain metrics suggest that SOL may very well hit a new all-time high (ATH) in the coming weeks or months. How exhilarating! 🚀
However, the prediction site Polymarket reveals that the market is nearly 50/50 on whether SOL will surge to a record cycle high in 2025. A true cliffhanger! 🎭
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2025-05-26 13:14