SOL, XRP Lead Altcoin Gains With 5% Rally as Bitcoin Hovers Near $84K

XRP, SOL Lead Crypto Gains as Bitcoin Stalls at $84K; Memecoins See Renewed Interest

XRP gained 5% over the past 24 hours, buoyed by Ripple Labs’ recent regulatory win in the UAE, where the firm secured a payments license. Insiders suggest Ripple is making significant headway toward resolving its long-running legal dispute with the U.S. Securities and Exchange Commission (SEC).

Solana’s SOL also jumped 7%, leading major altcoins after a highly debated governance proposal, SIMD-0228, was rejected late Thursday. The proposal, which sought to modify Solana’s inflation model, saw record voter participation. Many argued that its approval could disrupt the network’s fast-growing DeFi ecosystem and dampen institutional confidence in the blockchain.

Meanwhile, Bitcoin (BTC) struggled to gain traction, hovering near the $84,000 resistance level. The world’s largest cryptocurrency has been locked in a volatile range, experiencing significant price swings between $75,000 and $95,000 in recent weeks.

Memecoins, however, experienced a strong resurgence. Pepecoin (PEPE), Toshi (TOSHI), Dogecoin (DOGE), and other meme-based tokens surged up to 40% as traders sought high-risk, high-reward opportunities.

TOSHI led the pack with a 38% jump, while PEPE climbed as much as 12% before retracing slightly in European trading hours. Additionally, KEYCAT, a Base-based token, more than doubled in value after developers announced a partnership with Acheron Trading to enhance liquidity and expand its exchange presence.

The growing interest in memecoins suggests a shift in trader sentiment, as Bitcoin’s sideways price action encourages speculative plays in smaller-cap assets.

Despite this, Bitcoin ended the week down 3%, performing slightly better than in previous weeks when extreme market swings saw it decline nearly 20% from its January peak above $108,000.

Macroeconomic factors remain a key focus for investors, particularly interest rate policies and inflation data.

“The recent moderation in inflation strengthens the argument for potential rate cuts later this year,” Agne Linge, head of Growth at WeFi, told CoinDesk. “However, persistent geopolitical and economic tensions—especially from the ongoing trade war—add complexity to the Federal Reserve’s policy outlook.”

Bitcoin has shown increased price sensitivity to macroeconomic developments, behaving more like a high-risk asset than a traditional store of value. Its recent fluctuations between $79K and $85K highlight this trend, and analysts expect continued volatility in the coming weeks.

FxPro’s chief market analyst, Alex Kuptsikevich, pointed out that a move above $89,000 would be a key signal for bullish momentum.

“If Bitcoin can break past its 200-day moving average, we might see a sustainable uptrend,” Kuptsikevich said. “For now, the market is struggling with bearish pressure, particularly around the $83,500 resistance level.”

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