Altcoins Show Signs of Recovery: Ethereum, Solana, and XRP Lead the Charge
After weeks of decline, the cryptocurrency market is finally showing signs of recovery, with several top altcoins flashing green again. According to recent data, Ethereum, Solana, and XRP are leading the charge, with each asset displaying promising technical indicators and bullish signals. But is this the beginning of a larger rally, or just a temporary reprieve from the bearish pressure?
The altcoin market has been particularly hard hit in recent weeks, with many assets experiencing significant declines in value. However, with the widely expected “Red September” climate potentially fading, several old coins are starting to make profits in the daily and monthly charts. But what assets have the potential to see more upside in the coming weeks and months?
Ethereum (ETH) Shows Strong Recovery Signals
Ethereum, the second-largest cryptocurrency by market capitalization, is showing strong recovery signals, trading at around $4,437 at the time of writing. Market data from Crypto.news shows a 7-day gain of 1.8% and an impressive increase of 21.9% in the last 30 days. An important factor driving the rally is a significant decline in exchange reserves, with the Ethereum supply on centralized exchanges reaching a 3-year low of 17.4 million ETH, signaling a potential supply shock in the fourth quarter.
ETH price diagram | Source: crypto.news
Other bullish indicators include record network activity, with Ethereum exceeding 50 million monthly transactions for the first time, reflecting strong user demand. Meanwhile, large players continue to accumulate, with Bitmine now holding 1.87 million ETH and Sharplink expanding its participation to 832,000 ETH. In total, public companies in the crypto space hold over 4.7 million ETH, worth more than $20 billion. With the RSI climbing to 50, ETH could test $4,500 and potentially reach the $5,000 mark if the momentum applies.
Solana (SOL) Gradually Climbs Out of the Bear
Solana, a popular blockchain platform, is gradually climbing out of the bear, achieving a remarkable 30-day gain of 26.3% and reaching an intraday peak of $208. If buyers can surpass the resistance of $210, Sol could test the level of $220 and mark a new monthly high. An important driver for this rebound is increasing institutional interest, with Defi Development Corp. recently adding 196,141 SOL, worth $40 million, to its holdings.
Sol’s Price diagram | Source: crypto.news
The total value of Solana held by corporate treasuries now exceeds 8.28 million SOL, with the three largest owners, Defi Development Corp., Upexi, and SOL Strategies, controlling more than 70% of this corporate sum and demonstrating growing long-term trust in the Solana ecosystem.
Ripple (XRP) Shows Mixed Signals
XRP, the native cryptocurrency of the Ripple network, has shown mixed signals, trading between $2.73 and $2.90. The asset has published only 9 green days last month, reflecting ongoing uncertainty. However, several bullish catalysts are forming, including shrinking exchange reserves and new institutional interest.
Price diagram of XRP | Source: crypto.news
Exchange reserves are shrinking quickly, with XRP reserves on Coinbase falling from 970 million in June to just 165 million this week, signaling a drop in selling pressure. At the institutional level, Thumzup Media, connected to Trump’s investment network, has expanded its crypto treasury beyond Bitcoin to include XRP, contributing to speculation that XRP is a preferred asset under company scrutiny. Technically speaking, a breakout above the 50-day moving average at $3.08 could open the door for a rally towards the annual high of XRP at $3.65, especially if wider market dynamics become bullish.
The altcoin impulse is building, with ETH, SOL, and XRP showing recovery marks. If the most important resistance levels can be surpassed, fueled by strong fundamentals and potential ETF registrations, a wider market rally may be on the horizon. For more information and updates, visit https://crypto.news/altcoins-return-green-eth-sol-xrp-enter-recovery-territory/
