XRP is heating up once more. The asset exploded past $3.50 following a strong and clear breakout above the $2.80 resistance, erasing months of sideways accumulation. However, a second price wave that would push XRP to the much-awaited $5 mark might be in the works, suggesting that the rally is not yet over.
From a technical standpoint, XRP is in excellent shape. With the 200 EMA, 100 EMA and 50 EMA all now aligned in a perfect bullish stack, the asset has overcome all significant resistance zones that previously restrained its growth. Strong support is currently provided by the former consolidation zone between $2.40 and $2.80, which is perfect for a second surge.
Despite showing indications of stabilization, momentum indicators are still high. The fact that the RSI has not drastically reversed suggests that bulls are still hungry even though it is still in overbought territory. As for the price, it has formed a narrow range just below the recent high, which frequently comes before the start of a secondary wave, particularly on markets that are trending like this one.
That crucial component that needs to be restored is volume. The trading volume has somewhat cooled following the spectacular breakout to $3.50+. Volume will need to pick up speed again in order for XRP to surpass the psychological $4 barrier and get close to $5, indicating that institutional and retail demand are starting to influence the market again.
The path toward $5 becomes technically feasible if XRP is able to maintain above $3.30 and volume increases once more. The path to a robust upward extension is open because there are essentially no historical resistance levels between the current price and $5, particularly if Bitcoin and Ethereum continue to hold macro support.
Solana finally in
Finally, Solana has caught up. SOL has made one of its most convincing bullish moves in months, soaring above the $180 mark after trailing behind other significant assets like Ethereum and XRP. This breakout could put the asset back on track after a protracted period of underperformance and signal the start of a full-fledged bull market.
In a technical sense, SOL’s structure has changed significantly. A textbook ascending triangle formation – which frequently indicates continuation in an uptrend – and strong volume support, accompanied the breakout above the $180 zone, so it was not just a random spike. Additionally, SOL has now boldly surpassed all of the major moving averages, including the 50, 100 and even the pivotal 200 EMA.
You Might Also Like
These moving averages are all beginning to slope upward, which is a classic bullish signal. Months of deliberation and consolidation are ended by this surge. Due to intense EMA pressure, SOL was unable to recover its bullish momentum from April until late June. However, the breakout changed the course of events.
Solana is outperforming the market for the first time in a long time, not just following it. In a larger sense, this action brings Solana in line with the bullish trajectory of the market as a whole. ETH and XRP have already reached new local highs, but SOL was in a period of stagnation.
It is finally catching up, and doing so with strength, thanks to this recent move. When it comes to the future, the psychological $200 barrier is the next important area to monitor. A run toward $230-$250 is possible if SOL breaks above that level.
Even though the RSI is getting close to overbought territory, momentum is still high. In the event that the market remains optimistic, Solana may be able to reclaim its place at the table this time as a leader rather than a follower.
Dogecoin’s rapid surge
An impressive breakout above the crucial $0.20 resistance level, which has historically served as a barrier and turning point for the meme coin, is finally showing that DOGE has some fuel out there. Following weeks of consolidation in a narrow channel, DOGE has gained almost 40% in a few days, launching it into an important momentum-driven rally.
DOGE’s chart is technically displaying clear indications of a trend reversal. All three of the major moving averages – the 50, 100 and 200 EMAs – have been broken above by the asset, and the 50 EMA is currently turning sharply upward. But DOGE’s recovery of territory above the 200 EMA, which turns a long-term bearish trend into something much more bullish, is the most important indication.
You Might Also Like
The obvious breakout from the ascending channel pattern that developed through late June and early July is even more noteworthy. The doors opened for a quick move toward the $0.27-$0.28 range, where it sits now after DOGE loudly cleared that pattern. Although there is not much resistance on the way to that level, the next possible resistance from a price structure perspective is located around $0.30.
The volume has been increasing steadily, which is another important aspect of the legitimacy of this rally. In addition, an RSI that is currently well into overbought territory may indicate that a slight pullback or even some short-term consolidation is imminent. DOGE is unlikely to fall behind, though, as market sentiment favors high-beta altcoins and widespread bullish momentum propels everything from Ethereum to XRP.
If the $0.30 resistance is broken and bullish conditions continue, the next targets may reach $0.35 and higher. The meme coin may appear to be a joke in theory, but at the moment, the chart is not amusing. Investors and traders searching for breakout opportunities should not be sleeping on DOGE just yet.
