“Market sentiment turns as Solana bulls capitulate on their extended ETH bet and XRP holders face another rejection – what’s next for altseason?”

Ether Reclaims the Spotlight as SOL/ETH Trend Breaks Down
XRP Faces Similar Technical Setback

After months of bullish momentum, Solana’s dominance relative to Ethereum may be running out of steam. While some had forecasted a potential “flippening” in market cap between the two leading smart contract platforms, technical signals now favor Ethereum in the near term.

The SOL/ETH ratio, a key gauge of relative strength between the two assets, has broken below an ascending trendline that has supported SOL since September 2023. That line, which also connected lows in June and December 2024, was a critical structure holding the uptrend intact. Its failure suggests that ETH, currently priced at $2,656.05, could now outperform SOL, which trades at $170.20.

Further reinforcing this bearish turn for Solana, the MACD histogram on the weekly timeframe has turned red, signaling building downside momentum. Traders will now be watching the 0.055 ratio level, last tested in February, as immediate support. A move back above the Ichimoku cloud is essential for SOL to reassert strength.

XRP Breaks Out of Bullish Channel, Tests Key Levels

XRP, Ripple’s native token and a staple in the cross-border payment space, is also experiencing a notable technical breakdown. The token has fallen out of a rising price channel that had guided its recovery from the early April low near $1.60.

The drop puts $2.00 back in play as a critical support zone—one that has proven resilient in multiple instances earlier this year. Should that level fail, a return to $1.60 is a likely scenario.

On the upside, the hurdle is clear: XRP must breach the $2.65 resistance level to revive its bullish trajectory.