Coinbase is expanding its crypto derivatives offerings with the upcoming launch of Solana (SOL) and XRP perpetual futures, set to go live on August 18. This move could inject new momentum into both tokens, giving traders access to leveraged exposure and signaling growing institutional interest. With SOL and XRP already showing signs of technical recovery, all eyes are on how these instruments will shape price action in the coming weeks. Solana Eyes Recovery as It Edges Closer to Resistance Levels Source: tradingview Solana (SOL) is currently moving within the price range of just over $170 to just over $200. Recently, it faced a dip of almost 14% in the past week but managed a gain of more than 15% over the last month. The coin is hovering below the resistance level of about $220, with a support level looming close to $160. Market indicators like the RSI suggest that Solana might be oversold, presenting a potential growth opportunity. If bullish trends prevail, Solana could aim for its second resistance at approximately $250, presenting a potential upside of about 22%. However, slipping closer to its second support could mean a decline of around 32%. XRP Eyeing Recovery Amid Recent Volatility Source: tradingview XRP is currently trading between just under $3 to a bit over $3.50. Despite a shaky recent week with a drop of over 13%, it showed a strong comeback over the past month with nearly 40% growth. The coin is grappling with resistance near $4, but if it breaks through, it could head toward the higher resistance close to $4.70, marking an impressive rise. On the downside, support just below $3 may offer stability. The current indicators suggest a chance for growth, but XRP needs to gather some strength to climb higher. If it manages to surpass its resistance, the upward potential could lead to noticeable gains. Conclusion With derivatives trading for SOL and XRP soon to be available on Coinbase, both tokens may be entering a pivotal phase. Technical indicators point to possible breakouts—if resistance levels are breached, a wave of bullish momentum could follow. As market sentiment builds around this launch, SOL and XRP could be poised for renewed investor attention and upward price action. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
