Solana and XRP Surge 10% as Market Recovery Continues

Solana (SOL) and XRP have seen significant price jumps of around 10% in the past day, according to data from Bitget. This surge is largely attributed to a broader market recovery led by Bitcoin (BTC), which has lifted the entire crypto market.

On the daily price charts, SOL has reclaimed its 200-day Moving Average (MA) for the first time since last November and surged above $84 to hit a 3-month high of $87.20. However, a true breakout from its 2026 price range of $76-$98 could confirm further sustained upward momentum.

For XRP, despite surging 10% from $1.00 to $1.10, it is still below its 200-day MA at $1.27. The RSI indicator has yet to flash an overheated market, suggesting there's still room for XRP to hit the 200-day MA level and potentially gain an extra 17.5%.

The mid-week pump was triggered by a Bitcoin short-squeeze following the U.S. Treasury’s planned intervention in the bond market. Spot demand from U.S. SOL and XRP ETFs also supported the rally, with $2.1 million and $2.35 million in daily net inflows respectively.

The next move depends on BTC's direction, with next week's PCE (Personal Consumption Expenditures) Price Index data potentially becoming a crucial catalyst. A hotter-than-expected PCE could reduce Fed rate cut expectations in September due to stubborn inflation.