Ripple, Cardano, and Solana Stage Comeback Amid Strong Institutional Demand
Ripple (XRP), Cardano (ADA), and Solana (SOL) have made a comeback on Tuesday, reversing their bearish start to the week. The altcoins' recovery is driven by steady institutional demand.
The 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, their seventh straight day of inflows.
Ripple is currently trading above its 50-, 100-, and 200-period Exponential Moving Averages (EMAs) at $1.5016, $1.4673, and $1.4097 respectively. The altcoin's upside momentum appears moderate on the daily chart, with the Relative Strength Index (RSI) hovering near the neutral 50 level.
Cardano, meanwhile, is poised for a potential breakout rally as it extends over 2% gains on Tuesday. The altcoin price sits well above its 200-day EMA at $0.2418 and is reinforced by an overhead resistance line connecting the June 15 and July 4 highs near $0.2600.
Solana, which has seen solid rally, with bulls looking at a target of $148.74 set by the January 13 high, projecting over 20% upside potential.