The $2 psychological barrier might not last much longer if the current trend continues, as XRP is once again teasing critical support levels. The asset has entered a declining phase after being decisively rejected at the $2.20 resistance zone, missing out on earlier momentum that suggested a more robust breakout. The rejection happened as XRP approached the upper limit of a descending triangle which, unless refuted by a high-volume breakout, typically indicates bearish continuation.
In terms of technical analysis, XRP is displaying indications of a gradual and brittle reversal as it hovers just above the 100 EMA. However, the bounce lacks conviction; volume remains muted and momentum indicators like RSI linger in the neutral zone around 45, offering little reassurance for bulls. An aggressive bounce from this level is not supported by any strong bullish divergence, as indicated by the Relative Strength Index's lack of oversold conditions.
XRP/USDT Chart by TradingView
According to price action, the market is compressing as well. If there is not a strong upward push, XRP might end up moving in the direction of the 200 EMA, which is currently trading close to $2.The last significant support that held XRP afloat during the last correction is also at this level, making it more than just a technical target. A collapse at this point might cause XRP to enter a more severe retracement phase.
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The overall trend is still erratic. Despite its prior breakout from a falling wedge in early 2025, which supported its long-term bullish structure, XRP's recent price action suggests uncertainty. Bullish confidence is undermined short term by the asset's inability to set a higher high and break above $2.20.
The $2 level is in grave danger unless there is a quick change in market sentiment or XRP recovers $2.20 with volume confirmation. Traders should keep a close eye on how the price interacts with the 200 EMA; if it breaks, sharper downward pressure is likely to follow.
Ethereum sees accumulation
The numbers are starting to speak louder than the headlines, and Ethereum might be subtly getting ready for a big breakout. ETH has risen a remarkable 46% in the last 30 days, significantly outperforming Bitcoin in terms of both relative strength and absolute price action.
A significant indication of growing institutional and retail interest is the ETH/BTC pair's more than 30% increase over the same time period, which shows that capital is shifting significantly from Bitcoin to Ethereum. Since the early May vertical rally, ETH has held onto its gains and is currently trading at about $2,600.
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A series of higher lows has been printed by the price as it has been consolidating inside a tightly wound ascending channel while adhering to support levels. Bullish continuation structures typically exhibit this pattern. Since there was little to no volatility during consolidation, it appears that steady healthy demand — not speculation — has been the main driver of Ethereum's rally.
In the ETH/BTC pair, ETH has also notably broken through significant resistance and is currently testing the upper limits of a long-term weekly range. A breakout that is confirmed could signal the start of ETH's golden bull cycle, during which time its dominance on the larger cryptocurrency market will increase.
The market has not yet depleted buying power, as evidenced by volume, which is within normal ranges despite slightly declining during this consolidation phase. Around 60, the RSI stays neutral, allowing for more upside without going into overbought territory. A bullish argument is also supported by the larger narrative. As a decentralized settlement layer, Ethereum is becoming more popular due to the growing use of Ethereum layer-2 solutions and the ongoing background chatter about ETFs and ETH's enhanced monetary structure following the merger.
Solana starts moving
According to the most recent market data, Solana is on the verge of a technical cliff, and the decline has already begun. Two important moving averages that have traditionally served as dynamic support levels, the 50 EMA and the 100 EMA, have both been formally broken below by SOL.
More than merely symbolic, this breakdown portends a much more severe correction and the waning of midterm bullish momentum. Now trading at $152, SOL is no longer holding onto the $155-160 support range, which was previously strengthened by the convergence of important moving averages. In addition to nullifying the recent bullish structure, the breach of these levels turns them into active resistance zones. The psychological level of $100 or a drop of almost 35% from current prices now seems to be the next likely support.
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A slight increase in volume during the decline indicates that this move is not merely a shakeout or a temporary wick but rather the start of a longer-term sell-off. With a downward trend and an approach to oversold territory, the Relative Strength Index (RSI) is also showing this change and suggests that seller pressure is getting stronger. Technically speaking, it is particularly risky to lose the 100 EMA (about $158).
Prior to a total trend reversal, this line frequently acts as the final line of defense. A decline is likely if Solana is unable to swiftly recover that level. Additionally, macro conditions are not helping. Solana may find itself in a short-term isolated downtrend as the larger altcoin market exhibits signs of exhaustion and capital rotation favoring Ethereum and Bitcoin dominance creeps upward. If volume does not support a clear rebound above $160, the freefall scenario aimed at $100 looks more likely.
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