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- Altcoin season is in view as the momentum linked to Bitcoin price is slowing down.
- XRP, SOL, and ADA are topping the altcoin market with uptick prices.
The price of Bitcoin (BTC) hit a new All-Time High (ATH) at $111,978 on Thursday, May 22, 2025. However, the momentum in the Bitcoin market has slowed, raising questions about the emergence of a potential altcoin season.
Traders Shift Attention to Altcoins
While the price of Bitcoin repeatedly hits new all-time highs, most altcoins struggled to keep up with the optimism in the market. With BTC consolidating below the $110,000 level, traders are shifting their attention to top altcoins like XRP, Solana (SOL), and Cardano (ADA).
In the past 24 hours, XRP, SOL, and ADA prices rose by 0.6%, 4.04%, and 1.4%, respectively. On the other hand, BTC saw a big drawdown within the same timeframe.
Ryan Lee, Chief Analyst at Bitget Research, thinks a broader altcoin rally is on the horizon if Bitcoin’s dominance drops. According to the analyst, XRP and Solana are primed to lead the potential altcoin rally.
Lee highlighted that a bullish chart pattern known as a golden cross has emerged for XRP, strengthening its case for a rally. The analyst predicted that XRP could rally between $3 and $8. He also noted that the recent legal clarity obtained by Ripple Labs adds to the optimistic outlook for XRP.
In our last update, we examined how Ripple and the US Securities and Exchange Commission (SEC) settled their long-standing legal battle. The SEC agreed that Ripple could pay $50 million instead of the $125 million penalty imposed by a US Court. With regulatory cloud clearing, XRP has since broken out of a long-running sideways trend.
At the same time, Solana (SOL) is seeing renewed optimism, fueled by speculation around a potential Exchange-Traded Fund (ETF) launch. Lee is optimistic that SOL could head toward $220 to $300.
Top asset managers like Grayscale, Fidelity, 21Shares, and others have all filed to list a spot Solana ETF with the SEC. As we covered in our latest report, Bloomberg analysts predicted a 90% chance for a SOL ETF approval this year.
Bitcoin Price Loses Momentum
Bitcoin has lost its stability on the price charts following a new tariff scare ignited by President Donald Trump. At press time, BTC price was down by 3.04% and trading at $108,022, with a market cap of over $2.2 trillion.
Despite this, QCP Capital pointed out that the latest Bitcoin rally appears more stable than previous ones, driven by strong fundamentals and lower speculation. However, they warned that macro factors like rising US bond yields, renewed trade tensions, and a stronger dollar may pose future challenges, as is currently playing out.
Alex Kuptsikevich, an analyst at FxPro, added that the Bitcoin sentiment index is close to “extreme greed.” This means that despite the pause in momentum, more upside may lie ahead.
Altcoins have taken the spotlight for now, and XRP could lead the way. Besides, the Binance crypto exchange recently saw huge altcoin outflows, indicating investor accumulation and the emergence of an altcoin season.
