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XRP Faces Critical Triangle Breakdown Risk as Cardano and Solana Extend Losses

MarketDash Editorial Team
2 days ago
While XRP managed to limit Friday losses to 2%, the technical picture is darkening. With Cardano down 7% and Solana falling 5%, all three major altcoins are testing support levels that could define their next moves in an increasingly risk-off crypto market.

XRP (XRP) managed to limit its damage on Friday, slipping just 2% while its altcoin peers took heavier hits. But don't mistake relative outperformance for strength. The charts across the major altcoins are approaching critical inflection points, and the technical setups suggest the next moves could be decisive.

Solana's Downtrend Continues to Reject Every Recovery Attempt

Solana (SOL) fell roughly 5% on Friday, and the chart tells a story of rejection after rejection. A steep downtrend line that's been in place for weeks continues to cap every attempt at recovery, turning what looks like bounces into fade opportunities.

The latest rebound ran into that trendline and the 20-day EMA near $140, and both held firm. This zone has become the first major barrier bulls need to clear, and so far, they haven't come close. Above that, there's a dense band of Fibonacci resistance stretching from $141 to $153 that has repeatedly stopped upside attempts in their tracks.

Until Solana can push through this resistance zone with conviction, rallies are more likely to fade than trigger any sustained momentum. The RSI sitting near 41 shows cooling momentum without hitting oversold territory, which is consistent with a slow-bleed environment rather than capitulation.

If the selling pressure continues, price could revisit the earlier base at $122–$121, where buyers stepped in during the previous downturn. That's the next meaningful support level if current prices don't hold.

On the flip side, if bulls somehow regain control and break through the trendline, the next targets sit at $163 and $173. But getting there requires clearing multiple layers of resistance first, and right now, momentum isn't on their side.

Cardano Tests Multi-Month Support After Sharp 7% Decline

Cardano (ADA) had it worse, declining almost 7% as the chart continues tracking a clean downtrend that's been intact since October. Every attempt to break above that trendline has failed, and each successive bounce has been weaker than the last. That's a clear sign of fading demand.

Right now, price is testing a heavy support cluster between $0.38 and $0.41. This area has anchored several consolidation phases earlier this year, making it an important reference point. Buyers are showing up to defend it, but momentum remains soft and confidence appears limited.

The most important reference on the chart might be the 2-Year MA Multiplier, which is currently sitting well above price and has turned flat. That's not exactly a bullish signal. Unless ADA breaks its downtrend line convincingly, sellers are likely to treat each rebound as an opportunity to exit rather than a reason to add exposure.

If buyers can gain traction, the first levels to watch are $0.43 and $0.48. Above the trendline, the next meaningful zone sits near $0.60. But those targets feel distant given current momentum.

If support gives way instead, downside risk extends toward $0.32, which represents the last major accumulation area visible on the chart. A move there would mark a significant breakdown in the structure.

XRP's Triangle Pattern Approaches Decision Point

XRP is trading inside a broad descending triangle, and it's getting close to crunch time. The pattern features lower highs that reflect consistent rejection from a trendline stretching back to July. Each rebound has lost momentum sooner than the previous one, underscoring persistent selling pressure at the top of the structure.

The most critical level on the chart is rising support near $1.94. Buyers have defended this line multiple times, turning it into a key reference point for sentiment. A break below it would mark a major shift and remove one of the last structural supports holding the pattern together.

XRP also remains pinned beneath the Supertrend indicator at $2.41, which represents the first ceiling bulls need to reclaim before any strength narrative becomes credible. The Parabolic SAR has flipped bearish again, with signals printing above price and momentum still favoring sellers.

The triangle compression is reaching its final stage as the pattern approaches its apex in late December to early January. These setups typically resolve with a breakout in one direction or the other, and the technical indicators suggest sellers still hold control.

A close above $2.41 would open a path toward $2.90 and potentially shift the momentum picture. But a breakdown from the rising support base exposes $1.75 to $1.60 as the next downside targets. Given the current setup, that feels like the higher probability outcome unless something changes quickly.

Broader Market Weakness Weighing on Altcoin Sentiment

The weakness in altcoins isn't happening in isolation. Bitcoin (BTC) dropped about 4.5% and Ethereum (ETH) fell almost 4%, reinforcing a risk-off backdrop across the crypto market. That environment limits follow-through on any altcoin rebounds, even when individual coins show relative strength.

When the major coins are selling off, altcoins typically struggle to maintain independent rallies. The technical setups across XRP, Solana, and Cardano all suggest that any near-term bounces are more likely to be sold into rather than chased. Until the broader market stabilizes and these coins reclaim their respective resistance levels, the path of least resistance appears to be lower.

For traders watching these charts, the next few sessions could be telling. XRP's triangle can't compress forever, Cardano is testing support that's held for months, and Solana keeps getting rejected at the same levels. One way or another, these patterns are getting close to resolution.

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XRP Faces Critical Triangle Breakdown Risk as Cardano and Solana Extend Losses

MarketDash Editorial Team
2 days ago
While XRP managed to limit Friday losses to 2%, the technical picture is darkening. With Cardano down 7% and Solana falling 5%, all three major altcoins are testing support levels that could define their next moves in an increasingly risk-off crypto market.

XRP (XRP) managed to limit its damage on Friday, slipping just 2% while its altcoin peers took heavier hits. But don't mistake relative outperformance for strength. The charts across the major altcoins are approaching critical inflection points, and the technical setups suggest the next moves could be decisive.

Solana's Downtrend Continues to Reject Every Recovery Attempt

Solana (SOL) fell roughly 5% on Friday, and the chart tells a story of rejection after rejection. A steep downtrend line that's been in place for weeks continues to cap every attempt at recovery, turning what looks like bounces into fade opportunities.

The latest rebound ran into that trendline and the 20-day EMA near $140, and both held firm. This zone has become the first major barrier bulls need to clear, and so far, they haven't come close. Above that, there's a dense band of Fibonacci resistance stretching from $141 to $153 that has repeatedly stopped upside attempts in their tracks.

Until Solana can push through this resistance zone with conviction, rallies are more likely to fade than trigger any sustained momentum. The RSI sitting near 41 shows cooling momentum without hitting oversold territory, which is consistent with a slow-bleed environment rather than capitulation.

If the selling pressure continues, price could revisit the earlier base at $122–$121, where buyers stepped in during the previous downturn. That's the next meaningful support level if current prices don't hold.

On the flip side, if bulls somehow regain control and break through the trendline, the next targets sit at $163 and $173. But getting there requires clearing multiple layers of resistance first, and right now, momentum isn't on their side.

Cardano Tests Multi-Month Support After Sharp 7% Decline

Cardano (ADA) had it worse, declining almost 7% as the chart continues tracking a clean downtrend that's been intact since October. Every attempt to break above that trendline has failed, and each successive bounce has been weaker than the last. That's a clear sign of fading demand.

Right now, price is testing a heavy support cluster between $0.38 and $0.41. This area has anchored several consolidation phases earlier this year, making it an important reference point. Buyers are showing up to defend it, but momentum remains soft and confidence appears limited.

The most important reference on the chart might be the 2-Year MA Multiplier, which is currently sitting well above price and has turned flat. That's not exactly a bullish signal. Unless ADA breaks its downtrend line convincingly, sellers are likely to treat each rebound as an opportunity to exit rather than a reason to add exposure.

If buyers can gain traction, the first levels to watch are $0.43 and $0.48. Above the trendline, the next meaningful zone sits near $0.60. But those targets feel distant given current momentum.

If support gives way instead, downside risk extends toward $0.32, which represents the last major accumulation area visible on the chart. A move there would mark a significant breakdown in the structure.

XRP's Triangle Pattern Approaches Decision Point

XRP is trading inside a broad descending triangle, and it's getting close to crunch time. The pattern features lower highs that reflect consistent rejection from a trendline stretching back to July. Each rebound has lost momentum sooner than the previous one, underscoring persistent selling pressure at the top of the structure.

The most critical level on the chart is rising support near $1.94. Buyers have defended this line multiple times, turning it into a key reference point for sentiment. A break below it would mark a major shift and remove one of the last structural supports holding the pattern together.

XRP also remains pinned beneath the Supertrend indicator at $2.41, which represents the first ceiling bulls need to reclaim before any strength narrative becomes credible. The Parabolic SAR has flipped bearish again, with signals printing above price and momentum still favoring sellers.

The triangle compression is reaching its final stage as the pattern approaches its apex in late December to early January. These setups typically resolve with a breakout in one direction or the other, and the technical indicators suggest sellers still hold control.

A close above $2.41 would open a path toward $2.90 and potentially shift the momentum picture. But a breakdown from the rising support base exposes $1.75 to $1.60 as the next downside targets. Given the current setup, that feels like the higher probability outcome unless something changes quickly.

Broader Market Weakness Weighing on Altcoin Sentiment

The weakness in altcoins isn't happening in isolation. Bitcoin (BTC) dropped about 4.5% and Ethereum (ETH) fell almost 4%, reinforcing a risk-off backdrop across the crypto market. That environment limits follow-through on any altcoin rebounds, even when individual coins show relative strength.

When the major coins are selling off, altcoins typically struggle to maintain independent rallies. The technical setups across XRP, Solana, and Cardano all suggest that any near-term bounces are more likely to be sold into rather than chased. Until the broader market stabilizes and these coins reclaim their respective resistance levels, the path of least resistance appears to be lower.

For traders watching these charts, the next few sessions could be telling. XRP's triangle can't compress forever, Cardano is testing support that's held for months, and Solana keeps getting rejected at the same levels. One way or another, these patterns are getting close to resolution.