Leading altcoins XRP, Solana (SOL), and Cardano (ADA) each declined around 6% in the past 24 hours, pressured by a combination of macroeconomic headwinds and fading investor risk appetite. The latest drop adds to a string of losses across the broader digital asset market, with crypto majors reacting sharply to deteriorating global market sentiment.
Market analysts attribute the declines to continued uncertainty over U.S. economic policy, particularly tariffs and the Federal Reserve’s less dovish-than-expected stance. Fewer rate cuts anticipated in 2025 have weighed on risk assets, including cryptocurrencies.
XRP: Key Support at Risk
XRP is testing crucial support levels, with price action turning sharply negative:
- Trading below $1.80, with the next critical support level near $1.60.
- Technical indicators show weakness: RSI at 22.41 indicates extremely oversold conditions.
- The MACD and Chaikin Money Flow remain firmly in bearish territory.
- A potential double-bottom formation is developing near $1.80, but sustained downside pressure clouds the outlook.
Solana: Whales and Unlocks Trigger Concern
Solana’s price action has been particularly volatile:
- SOL plunged more than 22% from its recent peak, currently holding between $103 and $112.
- Whale activity and a $200 million token unlock added significant downward pressure.
- If $100 breaks, thin liquidity could drive price swiftly toward $80 or lower.
- RSI remains depressed, and the token is trading well below its major moving averages.
Cardano: Falling Toward a Breakout or Breakdown?
Cardano has followed suit, logging a steep 23% drop over two weeks:
- RSI sits at 32, nearing technical oversold territory.
- ADA trades below its 21-day EMA, reinforcing its current bearish trend.
- Price movement is forming a falling wedge pattern—typically a bullish reversal signal—but further downside toward $0.60–$0.61 remains possible before a rebound.
Outlook
With key support levels under threat, XRP, SOL, and ADA remain vulnerable in the short term. Traders are watching for potential relief if macroeconomic conditions stabilize, but for now, the market tone remains risk-off.
- XRP needs to hold $1.60 to avoid deeper losses.
- SOL must stay above $100 to prevent a liquidity-driven plunge.
- ADA is approaching a critical technical zone that could mark a reversal—or a new leg lower.
Until there’s clarity from policymakers or easing macro pressure, sentiment across crypto markets is expected to remain fragile.
