Solana Struggles Compared To ETH, XRP: What Is Going On With SOL?

Solana‘s SOL/USD lackluster performance over the past month has done little to discourage traders from seeing a bright future for the altcoin.

Cryptocurrency	Price	Market Cap	24-Hour Trend	7-Day Trend
Solana SOL/USD	$208.69	$99.4 billion	-7.3%	-6.6%
Ethereum ETH/USD	$3,586.94	$432 billion	-6.4%	+0.5%
XRP XRP/USD	$2.04	$117.7 billion	-14.1%	-19.7%

Trader Notes: Cypto trader McKenna predicts Solana could quickly reach $500, citing its resilience and potential.

Trader Jelle forecasts a rally to $600 in the coming months:

Crypto trader The Moon Show sees a breakout from a massive symmetrical triangle, targeting $295.

Altcoin Sherpa acknowledges short-term weakness in Solana's ecosystem, citing subdued price action. While bullish long-term, Sherpa identifies $180 as a potential support level if current prices falter.

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Statistics: DefiLlama data shows Solana's total value locked at $8.8 billion.

Coinglass data reports Solana's open interest at $6.05 billion, close to its all-time high levels.

Long liquidations dropped significantly, from $57.4 million on Dec. 9 to $8.43 million on Dec. 10, reflecting stabilization.

What's Next: Solana's current flatlining could be a period of consolidation before a breakout. Open interest and trading activity underscores that traders are watching the altcoin closely, suggesting a high likelihood of future volatility.

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