Solana, XRP prices jump 10% – Which altcoin has more upside left?
Solana and XRP prices surged 10% following a Bitcoin rally; this article explores which altcoin may have more upside potential moving forward.
In a surprising twist for altcoin enthusiasts, Solana (SOL) and XRP experienced a remarkable price surge of 10% on August 19, 2026, following a Bitcoin-led rally that energized the broader cryptocurrency market. But which of these mega-cap altcoins could have more upside potential? Let's dive into the details.
What Triggered the Surge in Solana and XRP Prices?
The pump for SOL and XRP was largely ignited by a short-squeeze on Bitcoin, particularly in the wake of the U.S. Treasury's planned intervention in the bond market. This event caused a ripple effect throughout the market, putting pressure on leveraged positions, especially among short sellers. Notably, Solana racked up nearly $100 million in short liquidations over the past 24 hours, while XRP saw a comparatively modest $16.5 million wrecked in leveraged shorts.
In addition to the short-squeeze, both altcoins benefited from spot demand linked to U.S. ETFs. Specifically, Solana ETFs recorded net inflows of $2.1 million, while XRP ETFs saw even higher inflows of $2.35 million. This strong interest undoubtedly contributed to the momentum noted in the price movements for both digital assets.
Why is Solana Showing Stronger Market Signals?
On the daily price charts, Solana managed to reclaim the critical 200-day Moving Average (MA) for the first time since last November—an indicator that generally signifies bullish behavior. SOL shot up to a three-month high of $87.20, surpassing its July high of $84. This change indicates that SOL is flipping bullish once again.
However, traders are cautious. A definitive breakout from the current *2026 price range* of $76 to $98 could lead to further upward momentum. If Solana can maintain the mid-range level of $88 as support and surpass the $100 threshold, it may recover much of its losses from 2025, potentially seeing an additional 16% rise if it hits the range high of $98.
Can XRP Catch Up With Solana?
Despite its recent gains, XRP's market structure is still in more bearish territory. Although it surged from $1.00 to $1.10—a 10% increase—it remains below the 200-day MA sitting at $1.27. This means XRP still has a little more room for growth, possibly up to an additional 17.5% if it can rally to that MA level.
The key for XRP, however, lies in defending the July support level of $1.00. If XRP drops below this zone, it may significantly empower sellers and diminish the bullish sentiment surrounding the altcoin, invalidating the current optimistic outlook.
What’s Next for Both Altcoins?
The next move for both Solana and XRP seems highly dependent on the price action of Bitcoin and upcoming economic indicators. Next week, traders will be closely monitoring the PCE (Personal Consumption Expenditures) Price Index data, which could have significant implications for market sentiment. Should the PCE data come in hotter than expected, it might dampen Fed rate cut expectations and affect risk sentiment in the market. Conversely, a cooler PCE could enhance risk-on behavior and further stimulate momentum in the crypto sector.
Key Takeaways
- Both Solana and XRP surged by 10% on August 19, driven by a Bitcoin-led market rally.
- Solana reclaimed its 200-day MA, hitting a three-month high of $87.20, indicating bullish potential.
- XRP remains below its 200-day MA at $1.10 but has potential for an extra 17.5% upside if it can break that level.
- Short liquidations contributed significantly to the recent price increases for both altcoins.
- The upcoming PCE data will be crucial in determining the future direction for SOL and XRP.
As the market evolves, having access to competitive rates across exchanges like Binance, Bybit, Bitget, OKX, and MEXC can provide you with favorable trading conditions. Keep an eye on these developments as they unfold!