- Ripple and Solana are the only altcoins seeing positive inflows.
- Altcoins change trend, could this lead to a fortuitous altseason pump phase?
- XRP and SOL both show bullish indicators for new ATH targets.
The crypto market continues to move in an upward direction this week, allowing the price of BTC to continue trading above the $80,000 and ETH trading above the $2,300 price range. In turn, the prices of other promising altcoins are also steadily rising, giving hope to a bullish altcoin price pump phase. At the moment, Ripple and Solana are the only altcoins seeing positive inflows. Could these assets lead the altseason peak phase surge?
Ripple and Solana Are the Only Altcoins Seeing Positive Inflows
The bull cycle so far has mostly only seen the price of Bitcoin (BTC) hit several new ATH prices over the course of nearly two years. During this time, only a handful of altcoins went on to set new ATH prices, and those that did set new ATH records were only able to hit a handful of very undervalued pumps. With the successes of these blockchains, a much more bullish pump was expected for altcoins.
In fact, the great win of launching ETFs for altcoins was hoped to have been followed by a massive altcoin price rally, an altseason pump phase that would rival the previous cycle’s pump, further elevated by ETF launches. Instead, only BTC saw a massive run, ETH saw a short pump, and most altcoins ran but failed to hit new ATH prices. This led experts to state that a bear cycle could not begin without altseason, despite the many bear calls so far.
As we can see from the post above, currently, Ripple and Solana are the only altcoins seeing positive ETF flows. In detail, as of May 4, spot XRP and SOL ETFs recorded net inflows of $3.87 million and $3.28 million, respectively. Certainly, the products lagged behind those for BTC and ETH, which saw a combined net inflow of nearly $600 million.
However, the Ripple and Solana ecosystems will likely see the inflows as a major success, while ETFs for other major altcoins are still seeing no activity on Monday, despite a resurgent crypto market. Especially impressive is the fact that spot SOL ETFs now hold close to 1.8% of the asset’s market cap. These actions support the possibility of XRP and SOL potentially becoming the top leader altcoin assets when altseason hits.
Altcoins Change Trend, Bullish Altseason on the Horizon?
As the post above depicts, this trader and analyst notices that altcoins have started to change trend, meaning that there are two strong green weeks and a bullish crossover. This is usually how an altseason begins, it does not start with hype, but rather with proper structure, and the signals are becoming clear for the next phase, which is growth.
