After reaching $3.30, XRP is 1.9% away from hitting its all-time high of $3.40, achieved on January 7, 2018.

As Bitcoin takes a deep breath after reaching new all-time highs earlier this week, altcoins are starting to outperform, with some recording double-digit gains.

XRP was the star of the show during Thursday's trading, rising 10% in 24 hours and trading at $3.33 at the time of writing. It has accumulated a 33% increase in a week. The asset is 1.9% away from reaching its all-time high of $3.40, achieved on January 7, 2018.

Earlier this week, XRP broke out of its trading range and surpassed important resistance levels. Just two days ago, XRP caught the market's attention with its explosive move to $2.92, decisively breaking above the resistance level of $2.60, which had limited rallies for most of 2025.

On Wednesday (16), the price of XRP reached a six-month high. The nominal open interest of XRP perpetual contracts — which reflects the cash value controlled by leveraged positions — surpassed $8.8 billion on Wednesday, according to crypto data provider CoinGlass. This represented a cumulative open interest of about 2.89 billion XRP.

Dogecoin

Dogecoin (DOGE) is above $0.20 for the first time in over six weeks and, as reported by Decrypt, has been delighting in the glow of a memecoin resurgence following the initial coin offering (ICO) of Pump.fun over the weekend.

Solana (SOL) and Cardano (ADA) also had substantial gains in the last 24 hours, rising 5.9% and 8%, respectively.

Thursday's market movements occur despite months of heated debates on social media X, with some analysts arguing that “altseasons,” or “altcoin season,” are now a thing of the past.

Michael Harvey, head of franchise trading at Galaxy, noted the “strong gains in SOL, XRP, HYPE, and SUI.” But there has also been a lot of attention from investors on heavyweight DeFi assets from Ethereum like AAVE and UNI, he added in a note shared with Decrypt, saying they have benefited from favorable signals of stablecoin adoption.

But not everything revolves around Ethereum. “BONK has stood out in the memecoin market, thanks to the protocol's plan to burn up to a trillion tokens,” Harvey said.

Of the 100 largest cryptocurrencies by market capitalization, 77 are currently in the green since yesterday — and notably, Bitcoin is not one of them.

Data from CoinMarketCap shows that this is impacting BTC's dominance. While the largest cryptocurrency in the world represented 65% of the total sector value at the end of June, that number has now fallen to 61.5%.

In contrast, after a quite unstable start in 2025, ETH's market share rose above 10% for the first time since March.

Altcoins also saw their market capitalization collectively increase from $983 billion to $1.44 trillion in the last 90 days — a jump of 47%.

Although BTC has broken price records in recent days, many other major cryptocurrencies are still far from their historical peaks.

ETH is currently trading at a 30% discount to its all-time high of $4,891.70, recorded in November 2021. But XRP is much closer to entering price discovery mode — and is 15% away from surpassing the record of $3.84, set in January 2018.

An imminent return to unprecedented valuations is extremely unlikely for Dogecoin, which remains 70.8% below its peak price of $0.74 on May 8, 2021 — the same day Elon Musk described the joke cryptocurrency as a “scheme” on Saturday Night Live.