Solana’s Momentum Wanes Against Ethereum; XRP Breaks Below Key Support

After months of outperforming Ethereum, Solana’s rally may have run its course—at least for now. The SOL/ETH ratio, a key indicator of relative strength between the two tokens, has broken down from a long-standing uptrend, hinting at potential ether outperformance in the near term.

The ratio recently fell below an ascending trendline that had been in place since September 2023, reinforced by lows in June and December 2024, according to TradingView data. The shift suggests a change in market dynamics that now favors Ethereum.

Technical indicators are reinforcing this view. The MACD histogram on the weekly chart has turned negative, signaling growing downside pressure. Immediate support for the pair lies at 0.055, the level last seen on February 25. A move back above the Ichimoku cloud would be necessary to restore a bullish case for SOL.

XRP’s Uptrend Breaks as Price Tests Key Support

Meanwhile, XRP has also lost bullish traction. The token, often used for cross-border payments, has fallen out of an ascending channel that had guided its recovery from early April lows near $1.60.

This breakdown brings the $2.00 level into focus—a crucial support zone that has held several times this year. If sellers push the price below this threshold, XRP may revisit the $1.60 area.

On the flip side, bulls would need to reclaim the recent high of $2.65 to revive upside momentum.