Key Takeaways
- Solana (SOL) holds key support of $180, and the price is ready to approach key resistance of $210, which would give it a further rally high.
- Ripple (XRP) shows signs of recovery towards $2.5 with minor resistance as bulls aim for the $3 target.
- The general crypto market looks promising compared to past weeks, with altcoins looking green following Bitcoin’s rally to $98,000.
The cryptocurrency market is beginning to show some signs of recovery after weeks of price decline seeing the price of many altcoins and memecoins drop to their yearly low with the price of Bitcoin ranging leading to fear and uncertainty for many traders and investors asking if this could be the end of the bull market.
With the price of many altcoins turning green again and getting ready for a price bounce to the upside suggest the market could slowly be ready for price recovery in the coming days or weeks with liquidity and volume beginning to return back to the crypto space.
The prices of Solana (SOL) and Ripple (XRP) are looking much promising compared to previous weeks as the price was at the edge of its key support signifying a breakdown to the low could see bears push price lower as this would have led to sell-off across the market for Solana (SOL) and Ripple (XRP).
Ripple (XRP) and Solana (SOL) are top-performing crypto assets in the past few months and are expected to continue in this fashion as price expectations for these crypto tokens by traders and investors are quite high as speculation suggests new highs for these crypto assets.
Solana (SOL) Price Analysis – Is Solana A Buy Or Sell?
Source – 1D SOL Price Chart From TradingView
After hitting new highs of $290 with many speculating price could be headed to $300, the price of Solana dropped from its high towards a low of $180 leading to fear around its ecosystem considering its price drop of over 40% within a short time.
The price of Solana (SOL) has demonstrated strong strength in the last couple of days holding strong onto its support of $180 as price could rally to a high of $210 to $220 in the coming weeks or days with the crypto market looking to make a recovery.
Solana (SOL) bulls need to defend their price around $180 to give more opportunity for a possible upside with price reclaiming $220 could see price attempt to break above its all-time high.
Ripple (XRP) Price Analysis – Will XRP Hit $5?
Source – 1D XRP Price Chart From TradingView
The price of XRP defended its support of $2.3 as price looks ready for a bounce towards its key resistance of $2.5. If the price of XRP breaks above $2.5 we could see XRP bulls rally its price to a high of $3 where price could face key resistance.
A key test for XRP price on the lower timeframe is $3, a break above $3 could see price rally to $4 or $5 in the coming weeks as the crypto market is beginning to look promising for the first time in weeks.
Both SOL and XRP have shown strong resilience holding their key supports as the market is looking ready for a price bounce with SOL and XRP prepared to follow the market in the coming days.
