Altcoin Downswing Continues: Ripple, Cardano, and Solana Extend Losses

Ripple (XRP), Cardano (ADA), and Solana (SOL) are struggling to stay afloat in Thursday's market, facing downward pressure. The technical outlook for these altcoins is bearish, with XRP potentially falling below the $1.00 threshold.

XRP is currently testing the bearish breakout of a rising support trendline near $1.0500 and remains beneath the 50-day EMA at $1.1143 and the longer-term 200-day EMA at $1.3938, indicating that the broader trend is under pressure.

The Relative Strength Index (RSI) for XRP is hovering near 38, approaching the oversold zone, while the Moving Average Convergence Divergence (MACD) has descended below the signal line, hinting at lingering selling pressure.

On the upside, initial resistance appears at the descending trendline around $1.1050, where a daily close above this level would open the way toward the 50-day EMA at $1.1143 and the R1 pivot level at $1.1568 for XRP.

Meanwhile, Cardano (ADA) extends losses below $0.1900, but still holds a mild bullish bias in the near term as price remains above the 50-day EMA at $0.1766, though well below the 200-day EMA at $0.2627, indicating that the broader trend remains challenged.

Cardano's momentum backs this upside tilt, with the RSI holding around 62 as it reverses from the overbought boundary, while the MACD in positive territory remains above the signal line, suggesting buyers retain control.

Solana (SOL) trades below $75 on Thursday, keeping a bearish near-term bias below the 50-day EMA at $75.50 and the 200-day EMA at $92.60, also remaining below the downward resistance trendline near $75.25, which acts as an immediate cap.