Ripple, Cardano, and Solana Face Downside Risk as Momentum Fades
Ripple (XRP), Cardano (ADA), and Solana (SOL) are struggling to sustain their upside momentum. The altcoins have maintained a consolidative tone, with a technical outlook that suggests downside risk.
XRP is currently trading around $1.40 at press time on Tuesday, holding above its 200-day Exponential Moving Average (EMA) at $1.3550. It's also hovering above the 50% Fibonacci retracement of the $0.9862 to $1.6999 upswing at $1.3430.
The momentum is moderating, with the Moving Average Convergence Divergence (MACD) slipping below its signal line and the Relative Strength Index (RSI) around 59. Immediate support for XRP is seen at the 200-day EMA near $1.3550, followed by the 50% retracement at 1.3430.
Cardano holds a constructive near-term tone above the 50-day and 100-day EMAs but remains below the resistance cluster formed by the 200-day EMA at $0.2449 and the 78.6% Fibonacci retracement at $0.2465.