Altcoin Rally: Ripple, Cardano, and Solana Rebound on Strong Institutional Demand
Ripple (XRP), Cardano (ADA), and Solana (SOL) are showing signs of recovery after three consecutive days of losses. Ripple has edged above $1.50, while Cardano is up nearly 3% and holding above its 200-day EMA at $0.2420.
The mild recovery in these altcoins aligns with steady institutional demand, as evidenced by the influx of funds into their respective ETFs. Ripple-focused ETFs recorded $3.96 million in inflows on Monday, marking their fifth consecutive day of positive inflows, while Solana-focused ETFs saw $12.70 million in inflows.
The technical outlook for XRP, ADA, and SOL is bullish, as the altcoins continue to sustain an upward trend for nearly two months. Ripple plans a rebound from its key support cluster, with the 50%, 100%, and 200-period EMAs all above $1.5000. The upside momentum appears moderate on the daily chart, with the RSI hovering near the neutral 50 level.
Cardano is poised for a breakout rally, as it extends over 2% gains on Tuesday above its 200-day EMA at $0.2418. The altcoin price also sits well above 50- and 100-day EMAs at $0.2172 and $0.2103, suggesting a supportive trend backdrop.