Ether’s Mayer Multiple Spikes Higher, While XRP Shows Signs of Outperformance Against Bitcoin

XRP’s BTC Breakout Looms as Altcoin Rally Gains Strength
Momentum builds across majors, with XRP and ETH flashing strong technical setups while BTC stalls

XRP/BTC: Multi-Year Breakout in Sight
XRP’s explosive dollar-denominated rally—up nearly 60% this month to fresh all-time highs above $3.50—may just be the beginning. Against Bitcoin, XRP is now testing the upper boundary of a four-year-long consolidation range on Binance’s XRP/BTC chart, indicating a potential long-term breakout is underway.

This sideways channel, dating back to early 2021, resembles a coiled spring—suggesting that the prolonged accumulation could give way to a sharp directional move. The longer the consolidation, the greater the potential upside upon breakout.

Bolstering this view is the Guppy Multiple Moving Average (GMMA) indicator, which has flipped bullish for the first time since 2018. The bullish crossover, where short-term EMAs rise above longer-term EMAs, typically signals sustained upward momentum.

XRP/USD: Golden Cross Confirms Bullish Continuation
XRP has also confirmed a bullish technical pattern on the USD chart. After retesting the $3.39 former resistance—now acting as support—the asset bounced higher in a textbook breakout-retest setup.

Momentum indicators are turning positive, highlighted by a bullish golden cross on the daily chart, where the 50-day SMA crosses above the 200-day SMA. With prices already trading at record levels, the next key resistance levels are $3.66 and $4.00. A drop below $3.35, however, could threaten this structure and open downside toward $3.00 or even $2.65.

AI’s View: XRP/BTC nearing the top of a multi-year range suggests an imminent, significant move. Traders will likely await confirmation—a strong daily or weekly close above resistance, preferably with rising volume—before positioning aggressively.

Key XRP Levels:

Resistance: $3.66, $4.00
Support: $3.35, $3.00, $2.65

ETH: Momentum Builds as Mayer Multiple Hits New Highs
Ether’s upward trajectory remains intact, with the Mayer Multiple—spot price divided by 200-day SMA—rising above its December peak to reach the highest level since March 2024. The 50-day SMA is trending higher, and a bullish crossover of the 100-day and 200-day SMAs appears imminent.

Price action has remained firm above $3,480, with no meaningful signs of bearish pressure. Daily candles since July 13 show minimal upper wicks, reflecting persistent buyer demand. Ether may pause near $4,000 due to dealer hedging flows in the options market but appears poised to revisit and potentially break its December high of $4,109. Further upside targets include $4,382.

AI’s View: The rising Mayer Multiple reflects strong structural momentum, pointing toward continued price appreciation if macro conditions remain supportive.

Key ETH Levels:

Resistance: $4,000, $4,109, $4,382
Support: $3,480, $3,081, $2,879

BTC: Momentum Stalls Below Key Thresholds
Bitcoin remains range-bound, trading in a narrow band defined by flat 50-, 100-, and 200-hour SMAs—typically a sign of waning trend strength. The inability to hold above $120,000 suggests buyers are losing conviction, especially amid macro crosswinds and dollar strength.

A break below the recent Asian session low of $116,539 could trigger a deeper correction toward the May high of $111,965. Conversely, a breakout above $120,000 would need strong volume to sustain a push toward the all-time high of $123,181.

AI’s View: BTC’s consolidation reflects indecision. Traders are likely to wait for a breakout above or below this compression range before taking strong directional positions.

Key BTC Levels:

Resistance: $120,000, $123,181
Support: $116,539, $115,739, $111,965

SOL: Breakout Continues, But Overbought Risks Rise
Solana’s SOL token has breached resistance around $185, supported by a bullish MACD and an RSI reading above 70. The Mayer Multiple is also at its highest since January, suggesting strong upward pressure.

However, with RSI flashing overbought conditions, a near-term consolidation or pullback wouldn’t be surprising. A drop below $177 could bring prices back toward $168 or $157.