Top Altcoins Price Forecast: Ripple, Cardano and Solana stabilise as downward momentum shows signs of exhaustion

• Following a decline of roughly 20% over the past seven days, Ripple trades around $1.05 on Thursday.
• With selling pressure easing, Cardano holds its crucial support area around $0.1712.
• Above $83, Solana pauses its decline as bears look towards the next support near $77.60.

October’s hot US CPI reading of 0.4%, above the market forecast of 0.3%, appears to have been priced in as leading altcoins Ripple (XRP), Cardano (ADA), and Solana (SOL) stabilise on Thursday. Their brief respite interrupts the prevailing decline associated with elevated US inflation data and the period following the US midterms.

Attention is turning to Friday’s release of the October US Producer Price Index (PPI). Forecasts point to a 0.4% month-on-month increase in US commodity inflation; a stronger reading could put further pressure on November’s Consumer Price Index (CPI).

Should October’s PPI prove hot, as the US CPI did, selling pressure across cryptocurrencies could intensify and concerns over a 50-basis-point (bps) rate increase could grow. According to the CME FedWatch Tool, the probability of a 25-basis-point increase from the current 3.75%-4.00% range stands at 91%.

Nevertheless, signs of consolidation in the technical outlook for XRP, ADA, and SOL suggest a base for a rebound could form if uncertainty across the broader market subsides.

XRP Technical Analysis: Bulls seek to hold the $1 level

After losing roughly 20% over the past seven days, Ripple is pausing above the psychological $1.0000 level. The bearish trend is reinforced by the downward slopes of the 50-day and 200-day Exponential Moving Averages (EMAs), which stand at $1.2746 and $1.3421, respectively.

A descending trendline around $1.3313 continues to cap the pair’s broader structure. More immediate resistance lies at the horizontal $1.0692 level, and XRP would need to recover above these barriers to restore an upward trend.

An RSI reading near 24 places the Relative Strength Index in oversold territory, signalling continued weak momentum. Meanwhile, the Moving Average Convergence Divergence (MACD) line is falling further into negative territory, pointing to a persistent downside bias.

For XRP, the path of least resistance leads below $1.0000 towards support at $0.9862, the annual low recorded on 14 August.

Cardano technical outlook: Support holds attention as selling pressure eases

Losses of roughly 35% over the past six weeks have given way to a near-term pause, with Cardano trading above $0.1712 support on Thursday. ADA’s decline has taken it well below the 50-day EMA at $0.2054 and the 200-day EMA at $0.2245, as well as its former rising trendline support, which now presents a barrier near $0.2069.

If a break below $0.1712 is sustained, ADA could fall further towards horizontal support at $0.1537, established by the low on 27 July.

There are indications that downward momentum is tiring. The RSI has levelled off around 31, just above the oversold band, while the MACD is converging with its signal line as the histogram contracts towards zero, suggesting selling pressure is moderating.

On a recovery, the horizontal $0.1894 level offers initial resistance. Beyond that lies a more concentrated supply zone comprising the 50-day EMA at $0.2054 and the breached rising trendline near $0.2069.

Solana remains under technical pressure

At $83.31 at the time of writing on Thursday, Solana remains in a bearish phase beneath a tight resistance zone formed by the 50-day and 200-day EMAs near $98.40 and $98.74, respectively. The 50-day EMA is also close to crossing below the longer-term average. Commonly known as a Death Cross, this pattern could confirm a bearish trend reversal.

Although the downtrend is overextended, downside momentum continues to dominate: the RSI stands at an oversold 23, and the MACD remains beneath the zero line.

Horizontal support around $77.60 provides the first floor for SOL. A confirmed break below it could open the way to further declines towards support at $67.50 and $60.13.

Any recovery would first encounter resistance at $87.46, followed by the breached trendline near $91.05 and the horizontal barrier at $95.82.

(The technical analysis of this story was written with the help of an AI tool. Know more.)