On Friday, Bitcoin 
$91,753‘s price falling below $55,000 raised concerns about a longer correction in September. While this may shake speculative investors, smart investors can use this opportunity to accumulate leading altcoins like XRP and Solana. Especially Solana and XRP hold significant positions in diversified portfolios for investors.
Solana Price Drop and Market Reaction
Solana’s native cryptocurrency SOL has experienced a significant drop in value over the past two weeks. The price fell from $162 to $127, a 22% decline. This loss in value is thought to be linked to a decrease in Solana’s revenue and volume. The waning interest in memecoins negatively affected transaction volume on Solana.
Some analysts suggest that Tron’s “Sun Pump” meme platform has drawn users away from Solana’s popular Pumpfun platform. However, while Pumpfun still generates between $300,000 and $400,000 in daily revenue, Sun Pump sees only a small fraction of this volume. Therefore, Pumpfun’s dominant position in the sector could help SOL’s price recover.
Currently, Solana’s price is trading at $127.4, with a market cap of around $59.5 billion. Since mid-August, there has been a significant increase in active addresses on the Solana chain. The number of active addresses has risen by 180%, from 982,500 to 2.75 million. This indicates growing interaction and demand on the Solana network.
XRP’s Legal Issues and Price Consolidation
XRP is currently trading at $0.53, signaling a 6.5% weekly consolidation. The Ripple 
$1 cryptocurrency has been moving sideways since January 2022 and has not achieved the expected rise despite a recent settlement with the SEC.
Uncertainty among investors may stem from the delay in the final $125 million payment between Ripple and the SEC. According to attorney Fred Rispoli, Ripple and the SEC agreed to secure 111% of this amount. This sum will be paid 30 days after the appeal period expires or if an appeal decision is made.
Fred Rispoli: “This situation, while not guaranteeing an appeal, increases the likelihood of one.”
However, data from Santiment shows increased interest from large investors holding XRP. Investors holding between 100 million and 1 billion XRP have accumulated 9.56 billion XRP. Such large purchases typically improve market sentiment and coincide with the end of a downtrend.
Opportunities for Investors
Both XRP and Solana offer attractive opportunities for long-term investors. Despite the sharp drop in the last two weeks, Solana has the potential to recover its price thanks to the growing number of active addresses and transaction volume on the Pumpfun platform. On the other hand, XRP may gain value with the interest of large investors despite ongoing legal uncertainties with the SEC.
Investors can consider Solana for dynamic movement in the short term. In the long term, XRP may continue to offer attractive value due to legal challenges. For those looking to make resilient investments against market volatility, these two altcoins are among the important options.
