Solana Golden Cross Fails, XRP Faces Crucial Technical Test

Solana (SOL) has failed to confirm a much-anticipated golden cross, weakening hopes for a sustained bullish breakout. A golden cross, where the 50-day moving average crosses above the 200-day, is a classic bullish indicator. While SOL’s 50 EMA briefly converged with the 200 EMA in early June, the crossover never materialized. Instead, the lines touched and then diverged, signaling weak momentum and strengthening bearish sentiment.

SOL now trades around $143 after failing to stay above the key $150 resistance. It remains under pressure, stuck below all major exponential moving averages (EMAs)—the 26, 50, 100, and 200-day lines. Last week’s rebound from the $130 zone appears short-lived, with daily volume declining and the RSI stuck near the low 40s, indicating low buying interest and muted momentum. Without renewed market strength or a macro catalyst, SOL may remain range-bound or decline further, with $125 emerging as a key support level.

Meanwhile, XRP is testing the 26-day EMA after rebounding from a recent low near $2.10. The asset bounced off its 200 EMA support and is now approaching the 26 EMA resistance, a critical technical level. A breakout above it could trigger further upside, especially if volume increases. However, on-chain data shows low whale activity and declining trading volume, casting doubt on the rally’s sustainability. RSI remains neutral, suggesting potential in either direction but lacking conviction.

Without stronger buying volume, XRP’s move may turn out to be a fakeout rather than the start of a broader reversal. A decisive close above the 26 EMA could open the door to $2.30, but failure to do so may lead to another test of the $2.00–$2.10 support range. Traders are advised to remain cautious.