- Currently, the Altcoin Season Index of the market is leaning more towards Bitcoin dominance, but not exclusively, and is not yet in a strong Altcoin Season.
- Some altcoins are making impressive moves, with XRP, Solana, and the biggest meme coin, DOGE, all posting double-digit gains.
Despite today’s market turbulence, Bitcoin (BTC) is holding steady around the $118,000 mark. However, the broader crypto market has seen liquidations spike to $956 million, with Ethereum (ETH) leading the pack, $813 million of that coming from long positions being wiped out.
Trader Daan Crypto Trades pointed out that $120,000 and $115,000 are the key levels to watch for Bitcoin’s next move. Meanwhile, the focus in the market is shifting back to altcoins as Bitcoin starts reclaiming more market dominance. Among altcoins, Ripple (XRP), Solana, and Dogecoin are emerging as the standout performers of the 2025 altcoin cycle.
Top-performing Altcoins
Confidence in altcoins continues to play an important role in XRP’s market performance. After breaking above $3.67 last week, XRP is now trading at $3.24, down 1.79% in the past 24 hours after recording a marginal increase in the past week.
Key resistance levels are sitting at $4.17 and $4.63, with crypto analyst Ali Martinez eyeing a target of $15.Lukas Enzersdorfer-Konrad, a market analyst, sees this pullback as a normal correction typical of fast-moving markets and still expects XRP to eventually surpass its ATH.
Optimism around XRP is being fueled by speculation that Ripple’s case with the U.S. Securities and Exchange Commission (SEC) could be resolved by August 15. On top of that, Ripple is gaining momentum through its expanding custody solutions, the RLUSD stablecoin, XRP-powered payment settlements, and its recent move into Dubai real estate tokenization.
Dogecoin (DOGE) has dropped 1.71% over the past 24 hours as broader market sentiment cooled, pushing the total crypto market capitalization back to around $3.9 trillion and erasing DOGE’s impressive 37% surge last week.
Despite the dip, analysts see potential for a reversal, noting a double-bottom pattern on DOGE’s chart alongside a breakout from a multi-month downtrend.
These technical signals could pave the way for a push toward $0.47 from its current price of $0.2443. Whale wallets now hold more than 122.59 billion DOGE, roughly 81% of the total supply, while the token continues to test key support levels around $0.2867 and $0.2590. Even with the drop, DOGE is still up more than 40% this month.
Earlier this week, Solana (SOL) broke past the $200 mark to $205, driven by strong ETF inflows and heavy corporate accumulation. As of July 24, SOL was trading at $190, up 0.13% on the day and 9.7% over the past week.
CNF reported that its Total Value Locked (TVL) has climbed to a six-month high of $10.3 billion, up 63% from $6.1 billion in April, giving Solana a 6.28% share of the market.
The key resistance level now lies beyond $250, with Solana still sitting 35% below its all-time high of $293.31. Despite a slight correction, experts remain bullish on Solana’s medium-term outlook, highlighting $180 as a crucial support level. A strong hold there could confirm the pullback as temporary rather than the start of a deeper slide.
Adoption also continues to grow, with MoonPay recently introducing liquid staking for Solana that allows flexible staking with no lock-up period and real-time mpSOL rewards, starting from as little as $1 and offering up to 8.49% APY.
Additionally, Nasdaq-listed DeFi Development Corp has purchased 999,999 SOL, worth $198 million, signaling growing institutional interest in the network.
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