**Today’s Crypto Highlights:** Ethereum reaches new all-time highs pushing the crypto market upwards. Meanwhile, Solana gains momentum with a bullish breakout above key resistance. Analyst Lark Davis highlights a strong technical pattern in Solana, while Bitcoin advocate Dennis Porter emphasizes community consensus as crucial for any code change. XRP price prediction suggests a potential wave 3 rally based on Elliott Wave analysis. The SEC is seeing an uptick in applications for spot XRP ETFs, signaling progress towards wider institutional adoption. Lastly, market analysts predict a possible rotation from Ethereum to Bitcoin following its recent surge.
**Solana Analysis:** Solana’s price rallied strongly after overcoming the 50-day EMA and reaching resistance near $205. This suggests a breakout trade setup with targets above $220 and $240 if Solana manages to close above this level. However, analyst Lark Davis also warns about potential rejection at this high point, which could lead to a pullback to the 20-day EMA around $185 before further action.
**Bitcoin Price Analysis:** Bitcoin briefly spiked on Friday thanks to a weakening USD, but the broader outlook remains bearish. Analysts see downside targets near 112,000 and 108,500, while invalidation above 118,200 is needed for a more optimistic signal.
**XRP ETF News:** Seven asset managers have filed amended S-1 forms for spot XRP ETFs with the U.S. SEC. This shows a united effort by issuers to bring XRP ETFs to market and signals progress towards broader institutional adoption.
**Rotation Towards Bitcoin:** The surge in Ethereum’s price could prompt a shift back into Bitcoin, with analysts predicting a rotation beginning in September followed by a powerful rally in October. This would potentially see Bitcoin regain dominance within the altcoin market as it reaches its peak.