Altcoins in Free Fall: Ripple, Cardano, Solana Face Deeper Losses
Ripple (XRP), Cardano (ADA), and Solana (SOL) are experiencing losses on Thursday, facing downward pressure. The technical outlook for these altcoins is bearish, as XRP risks falling below $1.00, ADA is eyeing the 50-day Exponential Moving Average (EMA) at $0.1766, and SOL remains capped below a cluster of resistance levels.
XRP edges lower on Thursday, testing the bearish breakout of a rising support trendline near $1.0500. The price holds beneath the 50-day EMA at $1.1143 and the longer-term 200-day EMA at $1.3938, suggesting the broader trend remains under pressure.
The Relative Strength Index (RSI) is hovering near 38, approaching the oversold zone, while the Moving Average Convergence Divergence (MACD) descends below the signal line, hinting at lingering selling pressure.
A decisive close below $1.0500 could confirm the downside release, risking a drop below the $1.0000 psychological threshold.