Cryptocurrency price forecast for today, August 23: Solana (SOL), XRP and Ethereum (ETH)

Cryptocurrency market price forecast for today (August 23): Solana (SOL), XRP and Ethereum (ETH)

The cryptocurrency market has fallen 1.83% in the past 24 hours, bringing the total market value to US$2.57 trillion, as Wintermute's large short positions helped trigger a liquidation waterfall over the weekend. The market maker established short futures positions of more than $146 million and transferred approximately $60 million in BTC and SOL to exchanges, adding to selling pressure after continuing gains. The correlation between cryptocurrency and gold over the past week was as high as 94%, showing how closely the two are trading amid macro uncertainty. As BTC needs to hold on to $75,500 to support consolidation, today could be crucial for SOL, XRP and ETH. The question is whether buyers can hold on to key support levels after the recent cooling in momentum.

Solana Price: Can SOL hold on to $90 after a rebound?

We looked at the chart and despite the recent decline, the structure remains bullish. SOL is currently trading at $92.44, down 1.43%, after climbing from about $76 to more than $102 in just a few trading days. This trend pushed SOL past the important $84 resistance level, which has now become the first key support area. Source: Tradingview.com buyers remain above $90, but the initial rally has faded. Prices did not plummet, they just lost momentum. The next big test is $98. If it breaks through, the $102 -103 area will come back into view. If SOL prices can stay above $90 and break through $98, we will see another impact on the $102 area. The data also supports this. The RSI, at 64.28, is still bullish but not yet overheated. STOCH was 33.00 and the ultimate oscillator indicator was 45.48, both indicating weakening current buying pressure. However, the MACD remains positive at 3.45, indicating that the larger trend has not yet been broken and is only a temporary pause.

Indicators| readings| Signal

RSI| 64.28 |Bullish

STOCH| 33.00 |Neutral

Ultimate Oscillator Indicator| 45.48 |Neutral

MACD| 3.45 |Bulls

How will Solana prices affect today?

Solana's Agave 4.2 upgrade could reduce rent-free deposits in standard SPL token accounts from approximately $0.16 to $0.016, a drop of up to 90%. Cheaper account creation can reduce the cost of DeFi, games, tokenized platforms, and applications that require large amounts of on-chain data. The network also activated the first phase of SIMD-0525 on August 22, reducing the target slot time from 400 milliseconds to 350 milliseconds. This is the first of four planned 50-millisecond reductions, with the goal of reaching 200 milliseconds, which could reduce confirmation latency and improve transaction and consumer applications. Investor demand is also supported by the Bitwise Solana Staking ETF, which has recorded inflows of more than $20 million. Solana's first major on-chain governance vote is also scheduled for around August 23, covering Solana's constitution, deflation rates and a new fee mechanism.

Today's Solana price forecast

Bullish forecast: If SOL prices regain US$98, the next target will be US$102 -105.

Neutral forecast: SOL may remain between $90 -98 as traders digest the recent rally.

Bear forecast: A break below $90 will bring $84 back into focus, followed by $80.

XRP Price: Can buyers push it up to $1.70 again?

We looked at the chart and XRP was consolidating after experiencing one of the strongest gains among the three major assets. XRP is currently trading at $1.45, down 0.77%, after climbing from about $1.00 to nearly $1.70. This trend breaks the previous downtrend, but recent K-lines have shown increased selling in the $1.50 -1.55 region. Source: The Tradingview.com chart now has a clear resistance zone around $1.55, with a bigger obstacle around $1.70. On the downside,$1.40 is the first line of defense that buyers need to defend, followed by the breakthrough area near $1.30 -1.35. Staying above $1.40 will maintain the recent bullish structure. Kinetic energy readings remain positive, but are no longer at extreme levels. The RSI is 63.99, STOCH is 43.51, and the ultimate oscillator indicator is 51.08, indicating that buying pressure has cooled but has not turned bearish. MACD remains positive at 0.1039, tilting the overall momentum towards buyers.

Indicators| readings| Signal

RSI| 63.99 |Bullish

STOCH| 43.51 |Neutral

Ultimate Oscillator Indicator| 51.08 |Neutral

MACD| 0.1039 |Bullish

Why XRP prices are still supported

The XRP ETF recorded a net inflow of approximately $39.78 million last week and has accumulated approximately $1.55 billion in inflows since its launch. August 21 alone brought in $18.38 million in a single day, giving XRP its strongest ETF week since May and providing a new source of institutional demand. Leveraged funds are also entering the market, with a whale opening a long position of 3.08 million XRP at 20 times leverage near $1.5465. At the same time, traders buying between $1.00-$1.10 have been taking profits, which could generate additional selling pressure near the current level. The regulatory background also improved after the White House Cryptocurrency Policy Summit on August 19, with XRP rising by about 30% in two days. This move pushed the RSI higher to 83.63, showing how quickly the rally has become and why XRP prices may need to consolidate before trying to hit $1.70 again.

Today's XRP price forecast

Bullish forecast: A breakthrough of US$1.55 may push XRP price to US$1.65 -1.70.

Neutral forecast: Ripple's XRP may remain between $1.40 and $1.55.

Bear forecast: A loss of $1.40 may expose $1.30, followed by $1.20.

Ethereum Price News: Can ETH recover $2,500?

We looked at the chart and Ethereum is also cooling down after a major breakthrough. ETH is currently trading at $2,389.50, down 1.34%, after climbing from about $1,900 to recent highs above $2,500. The rally pushed ETH past previous significant resistance levels and into new territory above Coinbase's historical highs in 2021. Source: Tradingview.com Buyers tried to break through $2,500 -2,550, but were repelled. This is the current high wall. If prices fall, the first support is around $2,300, then $2,200. As long as $2,300 is held, the upward trend of the past few days will still exist. The rally is slowing, but nothing seems to have gone wrong. The RSI is 64.21-still good. STOCH is at a low of 28.69 and the ultimate oscillator indicator is 48.04, indicating that the pullback is not severe. MACD remains firmly positive at 93.81, so even if there is a correction, the overall pattern remains bullish.

Indicators| readings| Signal

RSI| 64.21 |Bullish

STOCH| 28.69 |Neutral

Ultimate Oscillator Indicator| 48.04 |Neutral

MACD| 93.81 |Bullishness

What might drive the next step in Ethereum prices?

Ethereum broke past Coinbase historical highs, providing a new technical landscape for ETH prices, which recently rebounded to $2,546. The spot Ethereum ETF also recorded a net inflow of approximately US$697 million last week, the strongest week since October 2025, while ETH holdings on exchanges have dropped by 15% since June. The rebound has also benefited from short squeeze, but the strength of this trend has pushed the daily RSI reading higher to 78-88. This level of momentum increases the likelihood of consolidation following a rapid rise, especially if a large liquidation has already been recorded. Ethereum's Glamsterdam upgrade is now targeted for the fourth quarter of 2026, rather than the first half of this year. EIP-8037 will maintain the standard 21,000 gas cost of transferring money to existing accounts, but will add approximately 183,600 state gas when ETH is sent to a new address, which means that wallets, browsers and fee estimators need to be updated before the main network is activated.

Today's Ethereum price forecast

Bullish forecast: A breakthrough of US$2,500 may push ETH prices to US$2,550 -2,600.

Neutral forecast: Ethereum may consolidate between $2,300 and $2,500.

Bear forecast: A break below $2,300 could push ETH to $2,200, with $2,100 next being the support level.

FAQs

What is the Solana price forecast today?

If buyers regain control above $98, SOL prices may test $98 -102. A break below $90 could push SOL to $84.

Why are XRP prices rising amid weakness in the broader cryptocurrency market?

XRP is supported by strong ETF demand, with weekly inflows of approximately US$39.78 million and cumulative inflows of approximately US$1.55 billion. Regulatory developments and a $3.08 million 20-times leveraged long also supported bullish sentiment, although profit-taking remained a risk.

What drove the Ethereum price after it exceeded $2,500?

ETH benefited from weekly spot ETF inflows of approximately US$697 million, short squeeze and a 15% decline in exchange holdings since June. The next key level is $2,500, but cooling momentum could keep ETH prices between $2,300 and $2,500 until the next major move.