XRP News Today: Altcoins surge as Bitcoin dominance drops to 61.4%

Altcoins, including Solana, Hyperliquid, and XRP, experienced significant gains on Monday morning. Ethereum also saw an increase in value as institutional flows reached their strongest levels since November. Bitcoin's dominance in the market remained at 61.4%, with analysts closely monitoring for a potential break below 60% to signal the start of a full altcoin season.

The crypto market's appetite for risk assets returned with force on Monday, with altcoins such as Solana (SOL) and Ethereum (ETH) surging as traders rotated out of Bitcoin (BTC) following its successful test of the $106,000 level. SOL saw a 6.1% increase in the last 24 hours, trading at $155.78, while ETH stood at $2,611, gaining 3.7% in the past 24 hours. Ethereum's recent network upgrades have shifted the narrative toward institutional adoption on Ethereum-based platforms, according to Sygnum analysts.

Meanwhile, XRP posted gains of 4.6%, sending it to $2.26, and Cardano (ADA) rose 2.8% to $0.64 in the last 24 hours. The broader altcoin rally swept across multiple tokens, with HyperLiquid (HYPE) leading the charge among mid-caps with a 9.7% surge to around $44. The token has overtaken Dogecoin (DOGE) to become the fifth-largest crypto by futures open interest, with traders placing $2.06 billion in active bets on HYPE contracts.

Market analysts are carefully watching whether this represents the beginning of a broader altcoin season or merely a temporary rotation. Institutional interest is a primary driver, with nearly $1.9 billion flowing into crypto funds over recent days. This is evidenced by the wave of updated SEC filings from major asset managers aiming to launch spot Solana ETFs with staking capabilities. While this attention helps push crypto into the mainstream, it also brings some hesitation, which may be delaying a full altcoin season for now.

The latest gains come despite last Friday's sharp selloff triggered by geopolitical tensions, which sent Bitcoin tumbling 4% below $104,000. Bitcoin has since recovered to $106,724, up by 1.6% in the last 24 hours, as markets viewed the geopolitical shock as a buying opportunity. As Bitcoin’s positive demand trends continue, driven by the steady progress in institutional adoption and its increased use as a safe haven asset, Bitcoin’s fast-shrinking liquid supply is creating the conditions for demand shocks and upside volatility.

The recent altcoin rally is being driven by Bitcoin's push past $100,000, with strong ETF inflows and technical breakouts as key drivers. Stablecoin supply held by whales (over $5M) has risen 5% in the past 30 days, indicating increased buying pressure. Based on historical patterns, a major altcoin surge is expected between September and December.