Ripple, Cardano, and Solana Surge as Institutional Demand Boosts Altcoins

Top altcoins, including Ripple (XRP), Cardano (ADA), and Solana (SOL), are trading in the green on Friday, with gains of over 2% so far. The recovery aligns with Bitcoin's rise above $86,000 at press time, likely driven by strong inflows into Exchange Traded Funds (ETFs). Ripple sees similar institutional support, while Solana ETFs' daily inflows turn negative and Cardano's retail support remains stable.

XRP-focused ETFs recorded $4.07 million in inflows on Thursday after two consecutive days of zero inflows. The total weekly inflow stands at $8.02 million so far. Despite the positive inflow, it remains well below last week's $75.59 million, suggesting easing institutional support. On the other hand, Solana ETFs recorded $5.91 million in outflows on Thursday, after an $11.19 million outflow the previous day.

Ripple is up 2% on Friday, trading around $1.52 amid firm institutional demand. The cross-border remittance token sits well above the 50-, 100-, and 200-day Exponential Moving Averages (EMAs) at $1.3822, $1.3193, and $1.3765, respectively.

Cardano is up over 3%, inching closer to testing a bullish breakout of the key resistance level near $0.2632. The token maintains a firm bullish bias as it holds above the 50-, 100-, and 200-day EMAs at $0.22104, $0.2123, and $0.2406, respectively.

Solana is up over 3% at press time on Friday, trading around $122, with bulls aiming for a breakout above a range that has formed over the past week. A confirmed breakout above the September 25 high of $122.94 could signal further upside.