Data shows social media sentiment around Solana has been rising recently, but 
network utility has actually followed the opposite path. Solana Active 
Addresses Have Been On The Decline In a new post on X, analytics firm 
Santiment has talked about how a couple of key metrics related to Solana have 
changed recently. The indicators in question are the Positive/Negative 
Sentiment and Daily Active Addresses. Related Reading: Bitcoin Breaks $80,000, 
But On-Chain Activity Signals A Silent Warning First, the Positive/Negative 
Sentiment compares the bullish and bearish sentiments related to a given asset 
that are currently present on the major social media platforms. The indicator 
works by first separating positive and negative comments containing mentions 
of the asset using a machine-learning model and then taking the ratio of their 
counts. As the chart below shows, the Positive/Negative Sentiment has been 
going up for Solana recently, implying an improvement in investor mood around 
the cryptocurrency. Back in February, the indicator had plummeted for Solana 
as a consequence of the price crash. But even then, its value didn&#8217;t drop 
below the 1 level, meaning that sentiment never outright turned bearish, at 
least from the perspective of this metric. From the graph, it&#8217;s visible that 
the improvement in sentiment was gradual at first, but April saw an 
accelerated recovery. Today, the Positive/Negative Sentiment is sitting at 
about 3.2, which indicates that social media users are making more than three 
bullish posts for every bearish comment. &#8220;There is a growing narrative that 
the asset is primed for a breakout after trailing Bitcoin and other large 
caps, and regressing to the mean,&#8221; noted Santiment. While sentiment 
surrounding Solana has surged, the other indicator displayed in the chart, the 
Daily Active Addresses, has plummeted instead. This metric measures the total 
number of addresses taking part in some kind of transaction activity on the 
network every day. It would appear that user participation on the SOL 
blockchain shot up in January and reached a peak alongside the bottom in 
February. This trend wasn&#8217;t surprising, as volatile price action tends to 
attract trader attention. As the digital asset sector as a whole fell into a 
phase of consolidation following the February low, the Daily Active Addresses 
naturally declined as investors lost interest in the market. Recently, the 
metric has plunged to especially low levels, reflecting muted activity on the 
blockchain. More specifically, there have been just 2.89 million addresses 
that made transactions during the past week. For comparison, the indicator&#8217;s 
value was 5.01 million during the February high. Related Reading: Dogecoin 
Sees Big-Money Interest: Whales Load Up On 160M DOGE With the Daily Active 
Addresses sitting at a 4-month low right now, it remains to be seen whether 
the bullish outcome that the social media crowd is hoping for will follow for 
Solana. SOL Price At the time of writing, Solana is trading around $89, up 
more than 5% in the last 24 hours. Featured image from Dall-E, chart from 
TradingView.com

Solana Sees Rising Social Hype, Yet Network Activity Is Falling

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XRP price started a downside correction from the $1.4550 zone. The price is 
now consolidating and might aim for another increase if it stays above the 
$1.40 zone. XRP price started a downside correction after it failed to clear 
the $1.4550 zone. The price is now trading near $1.4080 and the 100-hourly 
Simple Moving Average. There is a bullish trend line forming with support at 
$1.4050 on the hourly chart of the XRP/USD pair (data source from Kraken). The 
pair could start a fresh increase if it settles above $1.4220. XRP Price Dips 
Again XRP price started a decent upward move above $1.3850 and $1.4150, like 
Bitcoin and Ethereum. The price gained pace for a clear move above the $1.4220 
resistance. A high was formed at $1.4570, and the price started a downside 
correction. There was a move below $1.4320 and $1.420. The price dipped below 
the 38.2% Fib retracement level of the upward move from the $1.3460 swing low 
to the $1.4570 high. The price is now trading near $1.4080 and the 100-hourly 
Simple Moving Average. There is also a bullish trend line forming with support 
at $1.4050 on the hourly chart of the XRP/USD pair. If there is a fresh upward 
move, the price might face resistance near the $1.420 level. The first major 
resistance is near the $1.4220 level, above which the price could rise and 
test $1.4350. A clear move above the $1.4350 resistance might send the price 
toward the $1.4550 resistance. Any more gains might send the price toward the 
$1.4620 resistance. The next major hurdle for the bulls might be near $1.4840. 
Another Drop? If XRP fails to clear the $1.4220 resistance zone, it could 
start a fresh decline. Initial support on the downside is near the $1.3050 
level. The next major support is near the $1.40 level and the trend line or 
the 50% Fib retracement level of the upward move from the $1.3460 swing low to 
the $1.4570 high. If there is a downside break and a close below the $1.40 
level, the price might continue to decline toward $1.3820. The next major 
support sits near the $1.3620 zone, below which the price could continue lower 
toward $1.350. Any more losses might call for a test of $1.3320. Technical 
Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the 
bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is 
now below the 50 level. Major Support Levels – $1.4050 and $1.4000. Major 
Resistance Levels – $1.4220 and $1.4550.

Solana Sees Rising Social Hype, Yet Network Activity Is Falling

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