According to the sacrificial tradition of the Rigvedic period, choose the correct option:

1) Rigveda consists of hymns in praise of deities.
2) Rajasuya and Ashvamedha were performed by Brahmanas.

Only 1

The correct answer is Option 1 - Only 1

1) Rigveda consists of hymns in praise of deities. (Correct)
2) Rajasuya and Ashvamedha were performed by Brahmanas. (Incorrect) 

Given Options:

Option 1- Only 1
Option 2- Only 2
Option 3- Both 1 and 2
Option 4- Neither 1 nor 2

The Rigveda consists of hymns in praise of a variety of deities, especially Agni, Indra and Soma. Many of these hymns were chanted when sacrifices were performed, where people prayed for cattle, sons, good health, long life, etc.
Rajasuya and Ashvamedha were performed by chiefs and kings.