More than two weeks ago, Bitcoin hit a historical high of $122,838, which made traders more bullish. Although it later fell by 4.2%, market enthusiasm remains, with many believing it may soon break through after stabilizing at high levels.
Bitcoin's rapid rise has also boosted many top altcoins and mainstream meme coins. Over the past year, XRP, TRON, Solana, and Pepe have all reached historical highs, indicating strong confidence in the overall market.
The total market cap of cryptocurrencies is currently around $4 trillion, having declined by 5.6% in the past 24 hours, indicating a slight cooling in the market. After a period of continuous growth, it seems that the market may be entering a consolidation phase. As expectations for a bull market grow, investors are starting to pay attention to cryptocurrencies that could surpass their previous all-time highs.
Ripple (XRP):
As a cryptocurrency used for cross-border transactions, it has seen significant price increases this year. It rose to $3.65 on July 18, surpassing the previous high of $3.40 in 2018. Currently, it is around $3.25, down 10.7% from its peak, but has increased by 2.2% in the past 24 hours and is in a consolidation phase.
XRP enables real-time settlements with very low transaction costs and does not require intermediaries for global transfers, making it highly favored by institutional investors. Its use by organizations like the United Nations has also enhanced its credibility. In 2023, a U.S. court ruled that XRP's retail transactions are not subject to securities laws, and by 2025, as regulatory disputes conclude, it will enter a more stable phase that attracts institutional investors.
This has resulted in high returns for XRP, which has risen over 387% in the past year, significantly outpacing Bitcoin's 77% increase during the same period. Technical indicators show that the Relative Strength Index (RSI) has dropped from 86 last week to 56. It rose by 42% last month, far exceeding Bitcoin's 9% increase over the past 30 days. Some investors are likely to take profits, possibly leading to a decline over the weekend, but this could also present a good buying opportunity.
In the past day, XRP fell by 2.7% and may continue to decline until the RSI approaches around 50 or the price nears the 30-day moving average. However, there is limited downside potential, with strong support around $3. The bullish pattern formed from late 2024 to early April 2025 suggests a possible rise to $4 later this year.
Solana ($SOL):
It trades quickly and at low costs, making it a strong competitor to Ethereum and firmly positioned among top smart contract platforms. With a market cap exceeding $95.4 billion and total locked value over $9.7 billion, it plays an important role in the DeFi space.
Following the approval of related funds for Bitcoin and Ethereum, speculation arises that Solana could be the next to launch a spot ETF. If approved, significant institutional funds could flow in, strengthening its position. Moreover, Trump's recent proposal to include Solana in the U.S. cryptocurrency reserves has attracted more attention.
In terms of price, Solana rebounded from a low of $100 in April, having previously surged to $250 in February, and is now at $179, having increased by 18.3% in the past month. The RSI dropped from 82 to 52; although some have taken profits, the situation remains relatively healthy. Support is around $150, and if it can break through $200 and $250, it may challenge the historical high of $293.31, potentially exceeding $300 in the fall.
Pepe ($PEPE):
Since its emergence in April 2023, it quickly became one of the top three meme coins by market cap, thanks to the popularity of its namesake frog character. Though many imitators have emerged, none have matched its popularity. At its peak, its market cap exceeded $4.7 billion, and it once served as Elon Musk's avatar, now playing a key role in the cryptocurrency meme space.
Currently, its price is approximately $0.00001123, having risen 16% in the past month, but it is still 60% lower than the peak of $0.00002803 at the end of 2024. Price patterns earlier this year suggest that it may rise soon.
The RSI has dropped to 42, indicating that recent selling may be coming to an end, making this weekend a favorable time for buyers to enter. The market fell by 5.7%, dropping to $3.92 trillion, while Pepe only fell by 4%, showing relatively stable performance. This suggests that high-market-cap meme coins like Pepe are beginning to follow price trends similar to mainstream assets like Bitcoin and Solana. As the market anticipates a rebound by late summer, Pepe holders feel that a new upward movement may be imminent.
