- Top cryptos to watch this week: Ethereum, XRP, and Solana, which are showing early signs of recovery after recent dips.
- ETH trades near $1,640; Vitalik Buterin proposes replacing EVM with RISC-V to improve speed and reduce costs.
After three rough weeks of downward pressure, the crypto market is finally showing signs of recovery. Bitcoin, which had dropped below $74.5K earlier this month, is now trading above $87K — bringing a wave of positivity across major altcoins as well. The overall sentiment has shifted from panic to cautious optimism as investor confidence returns. Still the fear and greed index stands at 34, indicating “Fear.”
This week, all eyes are on Ethereum (ETH), XRP, and Solana (SOL) — three of the top performing coins from the past, as they are expected to recover in this market rebound.
Ethereum (ETH)
Ethereum has bounced back strongly, currently hovering near the $1,640 zone. Last week, ETH dipped close to $1,415 due to profit-booking and macroeconomic uncertainty. But now with broader market strength and optimism around the upcoming changes could have a profound impact on ETH’s price.
Ethereum’s co-founder Vitalik Buterin recently proposed a significant update to Ethereum’s infrastructure, replacing the current Ethereum Virtual Machine (EVM) with RISC-V, an open-source instruction set architecture. This change is expected to boost Ethereum’s speed and reduce transaction costs, making it more scalable and user-friendly for developers. This move is in line with Ethereum’s broader strategy to enhance its network’s efficiency and lay the groundwork for future upgrades.
Ethereum is trading at $1,639.54 with immediate resistance near $1,650. A breakthrough above this could push the price towards the next resistance at $1,700. On the downside, the immediate support lies at $1,570, followed by a stronger support around $1,500 if the price faces further pressure.
Ripple’s XRP
XRP has also made a solid comeback, gaining around 7% in the past few days. Over the past few weeks, it struggled under $2. Currently priced at $2.12, XRP has seen a 1.44% uptick, buoyed by Ripple Labs securing a payments license in the UAE and nearing the conclusion of its long-standing legal battle with the U.S. SEC.
The weekly chart reveals a bull flag pattern with a breakout target of $5 if the price can breach the upper boundary of the flag at $2.50
Solana (SOL)
Solana is back in the spotlight, climbing from its recent low of $96 to above $140. Over the past week, the price of SOL surged by over 6.35% and 8.50% over the month. The drop in Solana’s price was significantly impacted by the loss of meme coins like TRUMP Coin and FARTCOIN. However, the current SOL price stands at $141.14 with the daily trading volume soaring by over 55.75% to $3.42 billion.
If the positive momentum continues to build, the next resistance level is at $150 followed by a significant resistance at $170, which has been identified as a crucial level for any bullish scenario. The immediate support level is at $135 with a stronger support zone around $125–$127.
The forecast was driven by the launch of spot Solana ETFs on the Toronto Stock Exchange (TSX). These ETFs are backed by direct SOL holdings and feature staking, a first for any publicly listed Solana product.
However, while Canada moves forward, the U.S. Securities and Exchange Commission (SEC) has yet to approve any Solana-based ETFs. Despite this, seven major U.S. asset managers, including Fidelity, VanEck, Franklin Templeton, and Grayscale, have filed to launch their own Solana ETFs, sparking market speculation.
Why the Market is Volatile
The recent volatility can be traced to several global triggers that include inflation worries, shifting interest rate expectations and the U.S. Fed’s mixed signals. On-chain activity is rising again, but traders are still reacting cautiously to news cycles and macro events.
For now, Ethereum, XRP and Solana are looking strong and trying to lead the way as the market attempts a full recovery.
Highlighted Crypto News for Today
Is Ethereum Stuck in a Rut or Ready for a Rebound?
