Altcoin Markets Plunge as XRP, ADA, and SOL Face Downside Pressure
Ripple (XRP), Cardano (ADA), and Solana (SOL) are trading in the red on Thursday, facing downside pressure. The technical outlook for these altcoins is bearish.
The 50-day Exponential Moving Average (EMA) at $1.1143 and the longer-term 200-day EMA at $1.3938 suggest that XRP's broader trend remains under pressure. Momentum is weak, with the Relative Strength Index (RSI) hovering near 38, approaching the oversold zone.
Ripple edges lower on Thursday, testing the bearish breakout of a rising support trendline near $1.0500. A decisive close below this level could confirm the downside release and risk a drop below the $1.0000 psychological threshold.
Cardano (ADA) extends losses below $0.1900 at press time on Thursday, after the $0.2000 psychological barrier capped its recent recovery. ADA holds a mild bullish bias in the near term, as price remains above the 50-day EMA at $0.1766 but well below the 200-day EMA at $0.2627.
Solana 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. SOL remains below the downward resistance trendline near $75.25, which acts as an immediate cap.