Solana’s Long-Running Strength Against Ethereum Breaks Down; XRP’s Rally Falters
The prolonged uptrend in the SOL/ETH ratio has broken, signaling potential near-term outperformance by Ethereum’s native token, ether (ETH), over Solana’s SOL.
Solana, often touted as a contender to surpass Ethereum in market capitalization, has seen significant momentum over the past 18 months. However, technical indicators now suggest that trend may be reversing.
According to TradingView data, the SOL/ETH ratio has slipped below an ascending trendline that connected key lows in September 2023, June 2024, and December 2024. This breach signals a shift in market sentiment favoring ether.
Further weakening is evident in the weekly chart’s MACD histogram, which has turned red—typically a sign of increasing bearish momentum. The immediate support level for the SOL/ETH pair lies at 0.055 (the February 25 low). To negate this bearish setup, the ratio must reclaim levels above the Ichimoku cloud.
XRP Breaks Bullish Structure
XRP, the token known for facilitating cross-border payments, is also showing signs of trend exhaustion.
After rallying from early April lows near $1.60, XRP has now broken below its ascending channel—a move that disrupts its recent recovery structure. The breakdown opens the door for a potential retest of support at $2, which has held as a floor multiple times earlier this year.
If this level fails to hold, XRP could see a deeper decline toward the $1.60 region. On the upside, bulls must reclaim the recent high of $2.65 to reestablish momentum.
