Altcoin Bearish Momentum: XRP, Cardano, and Solana Face Downside Pressure
The altcoin market is showing signs of bearish momentum, with Ripple (XRP), Cardano (ADA), and Solana (SOL) under pressure amid the broader volatile market. These top altcoins trade near their respective support levels, and a breakdown below these levels could result in deeper losses.
XRP remains in a downtrend as it trades below its 50-day Exponential Moving Average (EMA) at $1.1300. At press time, XRP trades at $1.0839, slightly recovering from a low of $1.0428 on July 6. In the last seven days, XRP has declined 3.63%.
The Relative Strength Index (RSI) is at 45.44, just shy of the neutral 50 line, while the Moving Average Convergence Divergence (MACD) holds marginally below its signal line in negative territory. Together, the indicators suggest fading bullish momentum. On the upside, initial resistance shows around $1.0935.