XRP and Solana Prepare for Takeoff: What We Know
Traders are beginning to shift towards major altcoins, such as XRP from Ripple and SOL from Solana, particularly due to Bitcoin consolidating near its all-time highs.
After Bitcoin (BTC) set new records at the beginning of the week, attention is shifting to leading coins. Some analysts note that institutional demand and a clear regulatory environment are creating conditions for powerful movements among top coins.
On Friday morning, May 23, during the Asian trading session, Bitcoin was fluctuating just below $111,000, with a slight decline amid profit-taking, typical after a rise. Cardano (ADA), Dogecoin (DOGE), and Solana (SOL) rose by up to 4%, while Ethereum (ETH), XRP, and BNB (from BNB Chain) increased by less than 1.5%.
The broad CoinDesk 20 (CD20) index, tracking the most liquid coins by market capitalization, gained 1.2% over the past 24 hours.
Chief Analyst at Bitget Research Ryan Lee told CoinDesk on Telegram that a potential decline in BTC dominance could kick off a broader altcoin season, in which coins like XRP and Solana are in a better position for growth...
