Top Altcoins Price Forecast: Renewed selling drives further declines in Ripple, Solana, and Cardano

• Three consecutive days of recovery give way to a modest Thursday decline for Ripple, which remains constrained by a falling channel pattern.
• A 2% drop in Cardano extends its bearish break below a rising support trendline, with selling pressure still firm.
• Solana slips away from its 50-day EMA at $106.76, leaving it at risk of falling below $100 towards the 200-day EMA at $98.71.

Renewed short-term selling pressure has pushed major altcoins, including Ripple (XRP), Cardano (ADA) and Solana (SOL), into negative territory on Thursday. Technical signals favour further downside: XRP is confined to a falling channel pattern, while key moving averages limit gains in ADA and SOL. 

Ripple : Falling Channel Keeps Losses in Focus

$1.3442 is Ripple’s price at the time of writing on Thursday. After three consecutive days of recovery, the token has turned bearish. XRP’s four-hour chart shows it still constrained by a falling channel pattern. The upper trendline links the September 23 and October 6 highs near $0.3669; the lower boundary joins the September 24 and October 18 lows near $1.2252.

The previous day’s advance stalled at a resistance cluster comprising the 200-period Exponential Moving Average (EMA) near $1.3827 and the upper trendline. Immediate support sits at the 50-period EMA of $1.368. A confirmed break could deepen the decline towards the October 18 low of $1.2562, representing downside potential of over 6%.

Weak momentum persists on the four-hour chart. As the bullish histogram narrows, the Moving Average Convergence Divergence (MACD) is moving closer to its signal line. Meanwhile, the Relative Strength Index (RSI) has declined to 53, pointing to limited buying pressure.

For an upside breakout from the falling channel pattern to be confirmed, XRP would need to clear the 200-period EMA at $1.3842, just above the upper resistance line. A move through that barrier could carry the recovery towards horizontal resistance at $1.4517, established by the September 24 low, and then the psychological $1.50 level.

$0.2205: Cardano Maintains a Bearish Bias

At $0.2205, Cardano remains below both its 50-day EMA of $0.2281 and its 200-day EMA near $0.2400, leaving the short-term outlook bearish. Its recent breach of the former rising support trendline, now resistance around $0.2349, indicates that rallies are attracting selling.

Daily momentum is turning bearish. The Moving Average Convergence Divergence (MACD) is falling within negative territory, while the Relative Strength Index (RSI), at 42, sits just above the oversold zone.

With the path of least resistance pointing lower, Cardano could retreat towards initial horizontal support at $0.1894, established by the August 30 low.

Any recovery would first encounter the 50-day EMA at $0.2281, ahead of the broken rising trendline near $0.2349. If buyers seek a more substantial rebound, the 200-day EMA around $0.2400 provides a higher resistance barrier.

$106.76 EMA Limits Solana’s Upside

$105.53 is Solana’s trading price on Thursday. Its short-term bias remains bearish, with the 50-day EMA at $106.76 continuing to restrict gains. However, SOL remains above its 200-day EMA at $98.71, indicating limited upside within a broader medium-term uptrend.

Buyers appear to be losing their advantage, according to daily momentum indicators. The RSI near 43 signals muted buying pressure. The MACD, meanwhile, remains below zero, indicating persistent downside momentum.

Key support lies at the 200-day EMA of $98.71. A breach would strengthen the bearish outlook and leave SOL vulnerable to a larger pullback towards the May 17 low of $83.50.

For a recovery, the first resistance barrier is the 50-day EMA near $106.76. A daily close above it would relieve immediate downward pressure. Further overhead obstacles could still constrain SOL, including the August 27 high of $110.60 and the September 25 high of $122.94.

(An AI tool assisted in preparing the technical analysis for this article. Learn more.)