Majors XRP, Solana (SOL), and Cardano (ADA) are each seeing a roughly 6% price slump in the past 24 hours amid broader macroeconomic pressures.
Recent market narratives show uncertainty around U.S. policies, including tariffs and a hawkish Federal Reserve stance with fewer expected rate cuts in 2025, providing the fundamental backdrop for a move further lower in crypto majors.
Here’s what technical analysis and price-action indicate for these tokens in the near term.
XRP, the token closely related to payments firm Ripple Labs, is below critical support levels with the next support threshold around the $1.60 mark. High leverage in XRP trading positions, as Coinglass data shows, hints at potential for more downward pressure before any recovery.
A potential double bottom pattern has formed near $1.80; the overall market structure remains bearish despite modest recovery attempts from the $1.60-$1.70 range.
Technical indicators show deeply oversold conditions with RSI at 22.41, while the MACD and Chaikin Money Flow (-0.17) signal strong bearish momentum as money flows out of the asset.
The 50% Fibonacci retracement level at $1.91 is currently acting as a pivotal point for a potential trend reversal in the near term.
Price action shows a series of lower highs from the $2 support zone. A bullish divergence has formed on lower timeframes, suggesting stabilization. This will now act as a resistance level after previously being a critical support level.
Momentum indicators have shifted from bearish to neutral in recent trading. RSI indicates oversold conditions, suggesting potential for a reversal if bullish momentum builds. The MACD shows a bearish crossover, reinforcing a downward bias unless a reversal signal emerges.
SOL is down over 8% in a week and in a crucial support zone between $100 and $110. The current slump suggests it may be revisiting these levels or even lower, with thin liquidity below $100 potentially leading to a sharper fall toward as low as $50.
SOL experienced a dramatic 22% drop from $122.75 to $95.72 between April 5-7, with partial recovery establishing a new trading range between $103-$112.
Major Solana whales unstaked and dumped significant holdings, with one transaction worth approximately $30 million coinciding with a $200 million token unlock event.
Needs to reclaim $112 to target $120; failure could see a drop to $96. The RSI is consistently below 40, indicating strong bearish momentum and oversold conditions.
MACD shows bearish crossovers, aligning with a downward trend. Price is below key moving averages ($130.5 and $184.2), reinforcing bearish bias.