Solana and XRP each jumped 10% on August 19 as a broader Bitcoin-led rally swept through altcoins. Their chart structures diverge sharply, however, leaving XRP with more room to run than Solana if the momentum holds.
The two mega-cap altcoins fronted a Bitcoin-led rally on August 19 that lifted the wider crypto market. Each surged 10% at press time, though their price structures point to different paths from here.
Solana reclaims key levels after months below them
The token reclaimed its 200-day moving average for the first time since last November. It also surged above its July high of $84, hitting a three-month high of $87.20.
A confirmed breakout from Solana's 2026 trading range of $76 to $98 would signal further sustained gains. If Solana turns the mid-range level of $88 into support and clears $100, much of its 2025 losses could reverse, with an extra 16% possible if bulls push to the range high of $98. But the RSI is flashing an overbought signal, so a pullback below $88 cannot be ruled out.
XRP still trades below its 200-day average
XRP's structure remained bearish on the daily chart despite the rally. The token surged 10% from $1.00 to $1.10, but that still left it below its 200-day moving average at $1.27.
Because XRP's RSI has yet to flash an overheated signal, there is room to run toward that average, and an extra 17.5% upside could be on the cards if it gets there. The bullish case holds only if XRP defends the July support zone at $1.00; a break below that zone would hand sellers the advantage and invalidate the outlook.
A short squeeze and ETF demand fueled the pump
The rally was triggered by a Bitcoin short squeeze tied to the U.S. Treasury's planned intervention in the bond market. As a result, Solana saw nearly $100 million in short liquidations over 24 hours, while XRP recorded $16.5 million in wrecked leveraged short positions.
Spot demand added further fuel: U.S. Solana and XRP ETFs saw $2.1 million and $2.35 million in daily net inflows, respectively.
Next week's PCE inflation data could decide what comes next. A hotter-than-expected print could reduce Fed rate-cut expectations for September, while a cooler reading could boost risk-on sentiment across crypto.
Source: AMBCrypto
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