Statement 1: It is a NASA spacecraft designed to study the Sun and its atmosphere.
Statement 2: It is currently orbiting the Sun in a highly elliptical orbit that takes it closer to the Sun than any previous spacecraft.

The correct answer is Option C: Both 1 and 2.

Explanation:
The Parker Solar Probe is indeed a NASA spacecraft designed to study the Sun and its atmosphere. It was launched on August 12, 2018, with the primary objective of providing unprecedented insights into the Sun's corona, solar wind, and other related phenomena.

The spacecraft is named after Eugene Parker, a physicist who made significant contributions to our understanding of the solar wind and proposed the concept of the solar wind in 1958. The Parker Solar Probe is the first NASA mission named after a living person.

Highly Elliptical Orbit:
The second statement is also correct. The Parker Solar Probe is currently orbiting the Sun in a highly elliptical orbit that takes it closer to the Sun than any previous spacecraft. The purpose of this unique orbit is to enable the spacecraft to study the Sun's corona and other phenomena up close.

The spacecraft uses multiple gravity assists from Venus to gradually decrease its orbital perihelion (closest approach to the Sun) over the course of several years. This allows the Parker Solar Probe to gradually get closer to the Sun with each orbit.

At its closest approach, the spacecraft will reach within 3.83 million miles (6.16 million kilometers) of the Sun's surface, which is about 4% of the distance between the Earth and the Sun. This is significantly closer than any previous spacecraft has been able to get, allowing for unprecedented observations and measurements.

Scientific Instruments:
To accomplish its mission, the Parker Solar Probe is equipped with a suite of scientific instruments. These instruments are designed to measure the Sun's electric and magnetic fields, capture images of the solar wind and corona, and sample particles and plasma in the Sun's atmosphere.

The data collected by the spacecraft will provide valuable insights into the processes that drive space weather, such as solar flares and coronal mass ejections, which can have significant impacts on Earth's technological infrastructure.

Conclusion:
In conclusion, the Parker Solar Probe is a NASA spacecraft designed to study the Sun and its atmosphere. It is currently in a highly elliptical orbit around the Sun, allowing it to get closer to the Sun than any previous spacecraft. The mission aims to provide unprecedented insights into the Sun's corona and other related phenomena, which will enhance our understanding of space weather and its impacts on Earth.