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Ripple, Solana Price Analysis: July 30, 2021

Ripple, Solana Price Analysis: July 30, 2021
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Ripple XRP

  • Ripple price continues with the bid for gains above $0.8.
  • Solana breaks away from other altcoins to post remarkable gains above $30.

Bitcoin price appears to have remained pivotal at $40,000 for a couple of days. The rest of the market is putting up a fierce fight to sustain the gains accrued from the beginning of the week. For instance, Ripple closed the gap to $0.75 again after bouncing off support at $0.7. On the other hand, Solana is among the best-performing crypto assets, following a 15% upswing over the last 24 hours.

Ripple:-

Ripple managed to hold above $0.7, a situation that allowed bulls to focus on pulling above $0.7 for the second time this week. A new monthly high traded at $0.76, leaving the critical $0.8 level untested.

Meanwhile, XRP is teetering around $0.74 following a minor correction. According to the Moving Average Convergence Divergence (MACD), Ripple is still in the bulls’ hands. If the level at $0.75 is defended, the leg up might stretch above $0.8 and trigger the much-awaited gains to $1.

Consequently, a golden cross pattern on the four-hour chart affirms the bullish outlook. This pattern comes into play when a short-term moving average (50 SMA) crossed above a long-term moving average (200 SMA).

XRP/USD four-hour chart

XRP/USD price chart
XRP/USD price chart by Tradingview

Solana:-

Solana seems to be breaking away from its peers as the week’s trading nears an end. The token is up over 15%, according to data by CoinGecko and currently trades around $32. Following the colossal selloff after mid-July to $22, SOL has sustained an uptrend.

For now, holding above $30 is the bulls’ primary goal because it would ensure stability in the market and give them ample time to plan the next attack mission on the hurdle at $33. Trading above this level may also blast SOL toward $40. It is essential to keep in mind the resistance expected at $37.5.

SOL/USD four-hour chart

SOL/USD price chart
SOL/USD price chart by Tradingview

The MACD has a bullish impulse, suggesting that the uptrend will continue in the near term. Therefore, support at $30 is crucial for the bullish formation. However, the RSI is in the overbought region, hinting at a possible correction, perhaps to $27.5.

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The post Ripple, Solana Price Analysis: July 30, 2021 appeared first on Coingape.

 

Source: Coingape

 


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