Many alternative cryptocurrencies (altcoins) faced challenges in achieving significant increases during the final week of May. Notable coins such as Ripple (XRP), Cardano (ADA), Toncoin (TON), and Solana (SOL) maintained narrow trading ranges as reported by CoinMarketCap.

In this evaluation, Coin Edition delves into the short-term price outlook of these digital assets amid the current sideways trend in the market.

Altcoin Price Insights

XRP

At the time of assessment, XRP was valued at $0.52. Analysis of the Money Flow Index on the 4-hour chart revealed a reading below the midpoint, indicating a net outflow of capital from the XRP market. This suggests potential challenges for upward price momentum in the immediate future.

Additionally, the Exponential Moving Average (EMA) displayed a notable signal. The occurrence of a death cross was observed, where the 50 EMA (yellow) intersected the 20 EMA (blue), signaling a bearish trend.

ADA

Cardano faced a lack of buying pressure, although the golden ratio analysis indicated a potential move towards $0.47.

TON

Toncoin's price forecast hinted at a decline to $5.50, reflecting a possible downside.

SOL

Solana's market trajectory suggested a slip towards the $161 support level, indicating a challenging period ahead for this digital asset.

The detailed analysis of XRP, ADA, TON, and SOL revealing bearish signals can be explored in the post titled 'Price Analysis: XRP ADA, TON, and SOL Show Bearish Signals' on Coin Edition's platform.