The last year has been an exciting adventure when it comes to Bitcoin prices. After breaking the $60,000 barrier in March and November 2021 and spending basically the next three consecutive years below this mark, we have seen in the last 12 months a rise approaching 60%, surpassing the $100,000 mark and flirting with new occurrences of the so-called ATH (All Time High).
The highest value ever reached, at least until this article is written (in the second half of May 2025), occurred on May 22, 2025, when the world's most important crypto reached $112,500, which is its current ATH.
As always when there is a strong movement in Bitcoin, we also tend to see significant fluctuations in other relevant altcoins, raising the question: where were Ethereum, Solana, and XRP during the last three occurrences of Bitcoin's ATH?
In this article, we will discuss where the prices of these three altcoins stood at the highest point of Bitcoin and, beyond that, we will address the importance of the All Time High concept for this market.
ETH, SOL, and XRP at the peak of BTC: where were they?
Let's look at the numbers from January 2025:
Ethereum (ETH): hit its all-time high at $4,878 on November 10, 2021 — the same day BTC peaked at that time. When Bitcoin reached its ATH in January 2025, Ethereum was around $3,200, therefore quite distant from its peak valuation;
Solana (SOL): the highest point in Solana's price occurred around the same time as Bitcoin's, breaking the $270 barrier on January 19 of this year; this crypto had been gaining popularity as a faster and cheaper alternative to Ethereum, with great enthusiasm from the NFT community and developers seeking scalability;
XRP (Ripple): like Solana, XRP also had one of its peak moments very close to what we saw with Bitcoin; in this case, the value reached was $3.31, which, despite being one of the highest, was not the ATH of this crypto. XRP had its highest value on July 1, 2018, when it reached $3.36.
What drove these prices at the time of each ATH?
We can basically observe two types of factors driving these altcoins: those related to the market as a whole and those specific to each project:
High global liquidity: expansionary monetary policies in the post-pandemic period flooded liquidity markets, favoring risk assets — including cryptocurrencies.
Strong and focused narratives:
Ethereum was the engine of NFTs and DeFi.
Solana was consolidating as a high-performance blockchain.
XRP was trying to remain relevant as an international payment bridge, even under legal pressure.
Institutional entry: large companies and funds were starting to add crypto to their balance sheets — which generated market validation and attracted new investors.
Social engagement and herd effect: influencers, celebrities, and online communities helped accelerate the bull cycle.
While what was presented in item 2 is specific to each project, 1, 3, and 4 refer to the crypto market environment as a whole, which has significantly matured, especially in 2024 - when, after the approval of Bitcoin and Ethereum ETFs in Hong Kong, even the request for Solana ETFs in the U.S. was discussed.
Where are we now?
Moving into May 2025, the scenario is quite different — but carries important lessons:
Ethereum underwent a crucial transition with the Pectra upgrade. Although it has not yet returned to the ATH of $4,878, by May 2025 ETH was hovering around $2,600, with a more robust technical base and a renewed DeFi ecosystem, but still 20% below what was observed at Bitcoin's ATH.
Solana, which suffered significantly after the FTX collapse, managed to recover remarkably. The network attracted new liquidity, and projects like memecoins, games, and DePINs brought SOL back on the radar. As of May 2025, its price is in the range of $160, therefore almost 30% below the time of Bitcoin's ATH.
XRP finally concluded a litigation it had with the SEC (U.S. regulatory body), which brought some relief to investors. Additionally, Ripple announced the launch of its own stablecoin, expanding its role in the global financial market. Still, the price of XRP is around $2.4, therefore well below the $3 observed in January 2025.
Expectations for the next bull cycle
If Bitcoin breaks a new ATH in 2025 or 2026, the behavior of altcoins may repeat previous patterns — with an important difference: the market today is more mature, and investors are more discerning.
Ethereum may benefit from future upgrades like sharding and consolidation as an infrastructure for financial applications, NFTs, and digital identity;
Solana seems to have regained the attention of bold developers and investors, especially in niches like memecoins, gaming, and real-time solutions;
XRP, on the other hand, depends more on the success of its institutional strategy with stablecoins and international agreements — it is a less 'retail' and more corporate path.
Does the past help to understand the future?
Observing the behavior of altcoins at the last ATH of Bitcoin helps us understand how the market reacts in bull cycles — but it also makes it clear that each cycle is unique. Historically, breaking a new all-time high for Bitcoin tends to attract massive attention to the crypto market as a whole.
This movement, in turn, acts as a trigger: after BTC takes the spotlight, investors — especially newer ones — start looking for opportunities in altcoins, in an attempt to capture greater gains in assets still 'off the radar'.
Comparing Ethereum, Solana, and XRP between 2021 and 2025 shows that those who survive and evolve technologically have a better chance of capturing value in the long term. Investors attentive to these movements have an advantage: they can separate assets with transient hype from those with real growth potential.
The next ATH of Bitcoin may be closer than it seems. And now, with more data, more fundamentals, and more experience, we may be better prepared to take advantage — without falling into the same traps of the past.
And you, which of these altcoins do you think will decouple from Bitcoin in its next ATH?
