BlackRock Says ‘No’ to XRP and Solana ETFs — But Price Charts Point to Breakout Potential

The crypto market faced a reality check this week after BlackRock confirmed it has no plans to launch ETFs for Solana (SOL) or XRP. 

That ended speculation that BlackRock might soon expand its crypto ETF lineup beyond Bitcoin and Ethereum, dampening short-term institutional hype for both tokens.

However, while the ETF setback removes one potential catalyst, the charts and order books tell a different story — both XRP and SOL remain technically poised for potential breakouts.

XRP Daily Outlook: Bullish Bias Holds Despite ETF News

XRP’s daily structure remains constructive. 

Also read: Galaxy Digital Makes Bold XRP Bet With $34M Token Holding and $97M Ripple Stake

Short- and medium-term EMAs are rising, suggesting the market continues to favor dip-buying over trend breaks. The MACD histogram is near flipping positive, indicating that sellers are losing control, while the RSI sits in bullish territory without signaling overbought exhaustion. 

That combination points to controlled, sustainable momentum rather than an overheated rally.

Daily chart for XRP/USD (Source: GeckoTerminal)

Key Levels: Resistance sits at $3.5504, with support layers at $3.0223, $2.7695, and $2.3531 forming a strong defensive base for bulls.

XRP Order Book Analysis

• BID WALLS:
  
  • $3.31360 — 124,308 units (≈411,907 USDT) → Break could trigger ≈0.44% drop.
    
  • $3.30530 — 123,186 units (≈407,168 USDT) → Break could trigger ≈0.69% drop.
    
  • $3.28940 — 103,904 units (≈341,781 USDT) → Break could trigger ≈1.16% drop.
    
• ASK WALLS:
  
  • $3.35000 — 247,807 units (≈830,154 USDT) → Clearing could lift ≈0.66% to next resistance.
    
  • $3.40000 — 949,505 units (≈3,228,316 USDT) → Clearing could lift ≈2.16% to next resistance.
    
  • $3.42000 — 137,548 units (≈470,415 USDT) → Clearing could lift ≈2.76% to next resistance.

Trading Setups: Long entries could be considered on dips to $3.02–$3.03, with partial exits at $3.40 and $3.47 and a breakout target at $3.55 if momentum clears $3.42–$3.47. 

Shorts possible on rejection at $3.40–$3.47 targeting top bid walls, but stops should remain tight in the prevailing uptrend.

Solana Daily Outlook: Holding Ground Without ETF Hype

Solana’s daily chart still shows a bullish tilt. EMAs remain supportive, indicating trend health. The MACD is flattening toward a bullish signal, while the RSI sits in a neutral-to-bullish range, allowing for upward extension without overbought stress.

Also read: Bitcoin Slips, Altcoins Stall: Why the Summer Rally Hasn’t Arrived

Daily chart for SOL/USD (Source: GeckoTerminal)

Psychological round numbers — particularly the $180–$190 zone — remain key in guiding trader behavior. A decisive close above this range could open the way for a retest of higher resistances, while a slip below mid-range supports could trigger a sharper correction.

Solana Order Book Analysis

• BID WALLS:
  
  • $177.60000 — 2,607 units (≈463,065 USDT) → Break could trigger ≈1.92% drop.
    
  • $173.00000 — 3,696 units (≈639,328 USDT) → Break could trigger ≈4.46% drop.
    
  • $172.88000 — 2,599 units (≈449,229 USDT) → Break could trigger ≈4.53% drop.
    
• ASK WALLS:
  
  • $182.00000 — 7,279 units (≈1,324,781 USDT) → Clearing could lift ≈0.51% to next resistance.
    
  • $185.00000 — 9,584 units (≈1,773,090 USDT) → Clearing could lift ≈2.16% to next resistance.
    
  • $190.00000 — 9,707 units (≈1,844,283 USDT) → Clearing could lift ≈4.93% to next resistance.

Trading Setups: Long entries could be considered on dips toward $177.6 or deeper into $173.0, with partial profit-taking at $182.0 and $185.0. A break above $190.0 could accelerate gains by nearly 5% toward the next upside magnet. Shorts may target reversals from $185–$190 resistance, but risk management is crucial given the supportive EMA structure.

Also read: Solana Internet Capital Markets Takeover – The Future of DeFi?

BlackRock ETF or Not, Breakouts Still in Play

While the absence of BlackRock-backed ETFs removes an obvious institutional trigger, XRP and Solana’s technical posture and liquidity setups suggest that both assets remain primed for sharp moves if key resistance levels are cleared. 

In both cases, the presence of well-defined bid walls offers near-term downside buffers, while stacked ask walls present clear breakout triggers for aggressive bulls.

Disclaimer: The information presented in this article is for informational and educational purposes only. It does not constitute financial advice. Ecoinimist is not responsible for any losses incurred. Readers should exercise caution before acting on this content.