Last Updated on 09/10/2026
- Ripple hovers around $1.40 on Thursday, testing the 200-day EMA support after a 5% decline the previous day.
- Cardano edges lower following a 4% decline the previous day, mounting bearish pressure on the 200-day EMA around $0.2423.
- Solana extends losses after a 3% decline the previous day, raising the risk of further downside.
Major altcoins, including Ripple (XRP), Cardano (ADA), and Solana (SOL), remain under selling pressure, extending their losses throughout the week. Institutional demand for XRP and SOL is showing signs of weakening, while ADA is also struggling to regain upward momentum. Technical indicators suggest a bearish near-term outlook for all three cryptocurrencies, with further declines possible if key support levels fail to hold.
Institutional Demand for Altcoin ETFs Weakens
Solana is experiencing declining institutional demand as investors continue to withdraw funds from SOL-focused exchange-traded funds (ETFs). According to SoSoValue data, these funds recorded $4.80 million in net outflows on Wednesday, bringing cumulative outflows for the week to $17.73 million.
Meanwhile, XRP-focused ETFs reported no net outflows on Wednesday, following $3.14 million in inflows the previous day. However, institutional interest has cooled considerably compared with the $75.59 million in inflows recorded during the final week of September, indicating a slowdown in demand for XRP exposure.
Ripple Faces a Critical Support Test
XRP was trading near $1.4100 on Wednesday, stabilizing after a 5% decline in the previous session. The token is testing a crucial support zone formed by the 50-day and 200-day exponential moving averages (EMAs), located at $1.4000 and $1.4018, respectively.
A decisive break below this support area could expose XRP to further losses toward the September 16 low of $1.2468, representing a potential decline of approximately 10% from current levels. If selling pressure intensifies, the July 21 high near $1.1646 could emerge as another potential downside target.
Technical indicators are increasingly bearish. The Moving Average Convergence Divergence (MACD) has crossed below its signal line, while the Relative Strength Index (RSI) has fallen to 44, below the neutral 50 threshold. Together, these signals suggest that downward momentum is strengthening.
On the upside, a successful rebound from the 200-day EMA could support a recovery toward the August 22 high of $1.6999.
Cardano Faces Resistance as Bearish Risks Increase
ADA was trading around $0.2521, extending its decline for a third consecutive session. The token continues to face resistance from a descending trendline near $0.2745, which has limited its recovery attempts.
Despite the recent weakness, Cardano’s broader technical structure remains relatively resilient, with the price still above the 50-day EMA at $0.2282 and the 200-day EMA at $0.2424. However, a confirmed break below the 50-day EMA could expose ADA to further losses toward $0.2084, corresponding to the 50% Fibonacci retracement level of its move from $0.1385 to $0.3136.
Momentum indicators point to fading bullish strength. The RSI has declined to 56, while the MACD has slipped slightly below its signal line, suggesting that buying pressure is weakening.
On the upside, immediate resistance stands at the 78.6% Fibonacci retracement level near $0.2632. A sustained move above this barrier could open the way toward the recent swing high of $0.3136.
Solana Faces Downside Risk Below $100
SOL was trading near $115 on Thursday, showing signs of a short-term correction despite its broader recovery structure. The 50-day EMA at $107.42 and the 200-day EMA around $96.65 remain important support levels for the cryptocurrency.
Momentum is turning increasingly bearish, with the MACD crossing below its signal line and the RSI declining to 51. These developments indicate that buying pressure is weakening and that SOL could face additional selling pressure in the near term.
The first key support lies at the 50-day EMA near $107.42. A break below this level could expose Solana to the psychologically important $100 threshold, followed by stronger structural support around the 200-day EMA at $96.65. Holding above the $107.42–$96.65 support zone would help preserve the broader recovery outlook and potentially encourage renewed dip-buying.
On the upside, immediate resistance is located at $122.94, corresponding to the September 25 high. A sustained breakout above this level could shift attention toward the January 13 high at $148.74, although further buying momentum would be needed to reach that target.
Overall, XRP, ADA, and SOL are showing signs of weakening momentum as institutional demand softens and technical indicators turn increasingly bearish. While key support levels could still trigger a recovery, decisive breaks below these thresholds would increase the risk of further losses across the altcoin market.
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