Solana Surges Past ADA, XRP in Bullish Run Amid Low Altcoin Leverage

The altcoin market's leverage remains below its risk threshold, according to Glassnode. This indicates that there is still room for growth in the altcoin market.

Solana (SOL), Cardano (ADA), and Ripple (XRP) have all had bullish runs recently. Among these, Solana has recorded the highest returns since Wednesday, at around 16% compared to 14% for Cardano and 11% for Ripple.

Solana's daily structure was flipped bullishly when it breached the $98.41-swing level. The bulls were able to defend the $95-$100 demand zone and drove prices higher.

Cardano has also been on a bullish run since its structure shift in July, setting a series of higher highs. Ripple, however, was pushing into a long-term supply zone that has repeatedly driven the bulls back, making it possible that XRP would struggle to be the most bullish token among the three for the rest of the month.

As long as Bitcoin does not suffer a steep pullback, Solana is likely to continue registering better returns. Among the trio, SOL appears the most likely to maintain its strong bullish momentum.