Cryptocurrency Market Forecast for August 1 – XRP, Solana, Cardano

Bitcoin, the pioneer of cryptocurrency, recently surged to a record high (ATH) price of $122,838 just under a week ago, sparking renewed bullish activity throughout the market. Today, prices are declining across the board for two primary reasons: the implementation of Trump’s contentious tariffs and investors taking profits from recent significant gains.

Renewed enthusiasm has lifted the entire cryptocurrency sector, enhancing major altcoins and top meme coins alike. Over the past year, assets such as XRP, TRON, Sui, Solana, Pepe, TrumpCoin, SPX6900, and FartCoin have all achieved new all-time highs—demonstrating increasing investor confidence in the sector’s long-term outlook.

There are also indications that the U.S. government is poised to follow through on its promise to regulate cryptocurrency. Yesterday, the SEC unveiled “Project Crypto,” a series of initiatives aimed at modernizing American securities laws to hopefully provide the industry with the clarity it has long sought.

With bullish sentiment returning, focus is shifting to coins poised to surpass previous price thresholds.

Ripple (XRP): Cross-Border Payments Crypto Achieves Significant Price Increases

Ripple’s XRP reached a new ATH of $3.65 on July 18, exceeding its previous record of $3.40 set in 2018. The token is currently trading at approximately $2.91—a 20% decline from its latest peak, yet still up 33% over the past month, indicating strong profitability compared to its rivals.

Known for facilitating real-time international transactions with minimal fees, XRP has become a preferred choice among financial institutions. Its adoption by organizations such as the United Nations has solidified its position in the global payments landscape.

A pivotal moment occurred in 2023 when a U.S. court determined that XRP’s retail sales do not qualify as securities—a legal victory that provided clarity and helped reignite institutional interest by 2025.

The outcome? XRP has surged 378% over the past year, significantly outperforming Bitcoin’s 78% return during the same timeframe.

Technical indicators suggest some cooling off, with the Relative Strength Index (RSI) dropping from 86 just under two weeks ago to 48. This reflects ongoing sell pressure that still has some distance to cover before reaching the oversold threshold of 30.

In the past 24 hours alone, XRP has decreased by 7.7%, aligning with a broader market downturn that has reduced crypto’s total market cap by 8.4% overnight to $3.79 trillion. Further declines are likely until the token’s price aligns with its 30-day moving average, which it is now approaching for the first time since early July.

Nonetheless, strong support near its current level could mitigate losses, offer a potential reentry point for buyers, and ultimately reverse its downward trend.

A bullish flag pattern, formed between late 2024 and early April, indicates that XRP could attempt a breakout toward the $4 mark later this year.

Solana ($SOL): High-Speed Ethereum Competitor on the Verge of Significant Price Rebound

Solana ($SOL) continues to demonstrate its capabilities as a high-performance crypto platform, recognized for its swift transaction processing and extremely low transaction costs. With a market cap exceeding $90 billion and total value locked (TVL) surpassing $9.55 billion (according to DeFiLlama), Solana has established itself as a major player in the DeFi sector.

Speculation is growing that Solana may soon gain approval for a spot ETF, following recent approvals for Bitcoin and Ethereum—an event that could unlock substantial institutional investment, as ETF products include regulatory safeguards that attract more traditional investors.

Adding to the intrigue, Donald Trump has suggested the possibility of including Solana in a proposed U.S. Crypto Reserve, which would store confiscated crypto assets.

SOL has made a remarkable recovery from its April dip to $100 after reaching $250 in February. Currently priced at $167, it has increased by 12.1% over the past month, although today’s market-wide decline has trimmed 7% from its value in the last 24 hours.

However, today’s sell-off is attributed to investors adopting a risk-averse stance as the U.S. begins enforcing tariffs on foreign goods perceived as stringent. The SEC’s recent announcement regarding active legislation on crypto is likely to stimulate a rebound as more developments unfold in the coming months.

With SOL’s RSI cooling from an overheated 82 last week down to a neutral 45, the asset may experience a slight decline before initiating a significant recovery rally.

Strong support is present around the $150 mark, while resistance at $200 and $250 remains the critical barrier to retesting the all-time high of $293.31—or even reaching $300 before the year concludes.

Cardano (ADA): Green Blockchain Challenger Targets Breakout in 2025

Cardano ($ADA) has regained momentum, achieving a 28% increase from last month. Its rise is driven by favorable technical trends and increasing institutional interest. Alongside XRP and Solana, it has been mentioned by President Trump as a potential candidate for inclusion in a proposed national crypto reserve.

Founded by Ethereum co-founder Charles Hoskinson in 2014, Cardano’s dedication to peer-reviewed research and its energy-efficient Proof-of-Stake (PoS) model have distinguished it as a notable project. The platform has influenced Ethereum’s transition away from energy-intensive mining practices.

Now holding a market cap of over $25.8 billion, ADA would need to more than triple in value to compete with Solana’s market cap and secure the second position behind Ethereum.

In the past 24 hours, ADA has declined by 8.7%, consistent with the broader market downturn, following a trend similar to other leading altcoins like XRP and Solana.

With the current price around $0.7154, analysts predict a mid-year target of $1.50. More ambitious forecasts suggest a potential return to the 2021 high of $3.09—a 332% increase from current levels.

A bullish flag chart pattern further supports the case for additional upside. However, the RSI has decreased from 85 at the start of last week to 44, indicating healthy profit-taking. This mirrors the consolidation observed in XRP and Solana, which may set the stage for renewed gains later in the year.

Key resistance is identified at $1.15, while support remains robust in the $0.85 to $0.90 range.

Snorter ($SNORT): Meme Coin Meets Crypto Trading Bot Power in Noteworthy Presale

For investors seeking the next significant opportunity, early-stage crypto launches often provide the most explosive potential.

Snorter ($SNORT) is one such emerging project—a meme-themed token with genuine trading bot functionality. Built on Solana and designed for cross-chain compatibility, Snorter integrates directly with Telegram to deliver real-time market insights to group chats.

With a competitive 0.85% trading fee, Snorter positions itself as a formidable rival to tools like BonkBot, Maestro, and Trojan. Features include front-running-resistant swaps, copy trading, automated limit orders, and tools to identify potential rug pulls—offering a comprehensive suite for active traders.

Investor interest is already rising, with over $2.6 million secured in presale funding. Early participants can earn staking rewards of up to 161% APY, although this figure diminishes as more participants join the pool. At a price still around $0.10, the token’s cost will increase slightly in upcoming rounds—making early participation somewhat more advantageous.

Whether you’re deeply involved in meme coins or just beginning, Snorter aims to provide substantial utility in an accessible format for the fast-paced crypto environment.

Stay updated with Snorter on X, Instagram, or join the presale on the Snorter website.

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