Ripple, Solana Price Analysis: July 30, 2021

By John Isige
Published July 30, 2021 Updated July 30, 2021
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Ripple, Solana Price Analysis: July 30, 2021

By John Isige
Published July 30, 2021 Updated July 30, 2021
  • 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.

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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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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
John Isige
1116 Articles
John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige

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