U.Today – Compared to its rivals, it underperforms among the top 10 cryptocurrencies, showing the least price movement. The asset has been stuck in a degenerating range for several weeks, unable to break through local resistance levels. XRP is still unable to break higher despite bulls’ attempts to break the trend, which worries investors about the possibility of a prolonged decline.
At the moment, XRP’s technical prospects are not good. The 200 EMA is currently a forceful resistance barrier and is the biggest obstacle for this asset to break vital levels multiple times. It is unlikely that XRP will enter a more sustained rebound unless it breaks above this vital moving average.
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The pattern of degenerating volume, which indicates waning interest from traders and investors, further highlights XRP’s destitute performance. Moreover, the overall market sentiment was not supportive of XRP as the other top 10 assets showed signs of recovery or growth while XRP lagged behind.
XRP’s only chance is to break through the EMA 200. If this level is successfully raised, buying interest could escalate and the asset could begin a much-needed reversal. However, until that happens, XRP remains vulnerable to additional declines, with support levels at $0.50 and below providing some ephemeral stability.
return
Bitcoin has successfully broken the key resistance level at $67,000, pointing to one of the biggest breakouts of 2024. This breakout could lead to a massive price escalate across the cryptocurrency market and indicates a significant shift in market sentiment. The breakout shows that Bitcoin has broken the long-term downtrend line that has controlled the price since March 2024.
This uptrend is key because Bitcoin currently appears well-positioned to reach fresh highs, with $70,000 representing another major psychological barrier. Bitcoin could target $75,000 if the bullish trend continues. At this price, more traders and institutional investors could enter the market, which could push prices even higher. Looking beyond that, the ultimate goal for many investors is for Bitcoin to reach an all-time high of nearly $69,000 in 2021.
The market has remained cautious, but if Bitcoin maintains its momentum and stays above vital support zones, a breakout could reignite hopes of reaching these levels. The closest immediate support is $65,900, and Bitcoin would have a stronger case for a more bullish move if it could hold above that level.
All things considered, Bitcoin’s breakout has created some much-needed optimism for the market. If volume continues to escalate, we could see a further shift towards higher price targets, with the potential to surpass previous all-time highs and set fresh highs in the coming months.
looks like $200
Solana recently rose above the $165 price level, leaving many wondering whether $200 could be the next gigantic target. The strength Solana is showing is reminiscent of its previous bull runs after it broke a number of resistance levels, including the $160 range.
The market spirit and SOL’s ability to hold above vital moving averages such as the 50, 100 and 200 EMAs support the current uptrend. However, in the low term, there are some concerns that may limit growth. It is worth noting that $88 million worth of SOL tokens will soon be unlocked in the next few days. Increased selling pressure from the injection of liquidity into the market could cause Solana’s extraordinary growth to halt or leisurely.
The market’s reaction to this event and its timing will be key factors in determining SOL’s near-term performance. The upside is that the $180 mark becomes another psychological barrier for bulls to overcome if Solana can maintain its momentum and withstand any possible selling pressure from the opening event. If bullish sentiment and high volume continue in the market, $200 would be a significant target that could become achievable.
The $150 and $140 levels, which have served as support in the past, will be used by traders as downside protection. Despite possible headwinds, Solana’s ability to stay above these levels would indicate that the uptrend is still forceful.
