Solana ends 18-month bull run; XRP's mini-uptrend fades

Solana Ends 18-Month Bull Run Against Ether; Xrp Is At The End Of Mini-Uptrend

29 May 2025 at 19: 24

Reading time: 2 minutes

Solana in the battle for market capitalization

The programmable blockchain Solana appears to be on track to surpass its rival, the leading smart contract blockchain Ethereum, in terms of market capitalization, according to several observations in recent months. Despite this, Ethereum's native token, ether, currently holds a lead over Solana's SOL, as shown by technical analyses.

The SOL/ETH ratio has undergone a decline, breaking out of an ascending trendline that connects the September 2023, June 2024, and December 2024 lows, according to data from TradingView. This suggests that the position has changed in favor of ETH, and the token could outperform SOL in the near term.

Moreover, the weekly MACD histogram is showing a red color, indicating an increase in the downward momentum. The immediate support is found at 0,055, the low of February 25. To negate the bearish outlook for SOL, the pair must move above the Ichimoku cloud again.

XRP loses its uptrend

Another cryptocurrency that is showing a shift in the market trend is XRP, which is designed for cross-border payments. XRP has exited its bullish ascending channel, marking the recovery phase since the early April lows around $1,6.

This break has exposed the support at $2, which has acted as a floor multiple times this year. If buyers fail to defend this level, a deeper dive to $1,60 is possible. On the upside, the recent high of $2,65 is the point that the bulls need to overcome.

Frequently Asked Questions

What are the implications of the drop in the SOL/ETH ratio?
The decline in the SOL/ETH ratio suggests that Ethereum is currently outperforming Solana in the eyes of investors. This could lead to a rethink of Solana’s value in the market, especially if the trend continues.

How important is the Ichimoku Cloud for technical analysis?
The Ichimoku cloud is a valuable tool in technical analysis that can help identify trends and support and resistance levels. A price movement above the cloud is often seen as a bullish signal, while a movement below it can be bearish.

What can investors expect from XRP in the near future?
Without a solid defense around $2, XRP may experience upward pressure towards $1,60. Furthermore, the approach of the most recent high of $2,65 will be crucial for XRP’s price performance, with implications for the overall market sentiment.

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