Altcoins Stabilize Amid Waning Bullish Momentum

Ripple (XRP), Cardano (ADA), and Solana (SOL) are showing mild gains on Thursday, but their technical outlook indicates downside risk due to waning bullish momentum.

The US-Iran war is weighing heavily on the broader crypto market, causing uncertainty among investors. Despite this, XRP has maintained a near-term bullish bias, trading above its 50-day and 100-day Exponential Moving Averages (EMAs) at $1.2227 and $1.2191, respectively.

However, the 200-day EMA at $1.3827 now acts as an overhead barrier for XRP, which must clear this zone to see a sustained recovery towards the August 23 high at $1.5507. The Moving Average Convergence Divergence (MACD) has moved below its signal line, suggesting that upside momentum is softening.

Cardano (ADA) and Solana (SOL) are also showing mild gains, with ADA rebounding from key support cluster and SOL trading around $100 at press time. However, their technical outlook indicates a waning bullish momentum, with the MACD declining below its signal line for both assets.