The crypto market has started the week in recovery mode, with several major altcoins — including Solana (SOL), XRP, and Dogecoin (DOGE) — showing signs of a bounce following a weekend rout that wiped out over $1 billion in open interest. According to CoinDesk, the altcoin market was hit particularly hard during the flash crash, but traders are now reassessing risk as volatility cools.
The timing of this bounce coincides with renewed optimism around Bitcoin ETF inflows and macro clarity in U.S. rate expectations. However, the path ahead remains uncertain for these altcoins, especially as technical indicators still show considerable weakness.
Solana (SOL) Price Outlook
Solana is currently trading around $134, up from a weekend low near $124. The recovery came as volume spiked, hinting at possible short-covering rather than renewed accumulation. Still, the bounce from key support levels may offer some short-term momentum.
Source: Tradingview
SOL needs to reclaim the $150 level to confirm any real trend reversal. The structure remains bearish on higher timeframes, with lower highs and volume fading after each attempt at recovery.
XRP Under Pressure Despite ETF Optimism
XRP’s price action is less encouraging. Despite optimism around a potential XRP ETF — bolstered by recent comments and a 72% probability reported by market analysts — the token dropped below the $2.05 mark, confirming a bearish breakdown of its multi-week support zone.
Source: Tradingview
Volume remains lackluster, and RSI indicators show no clear bullish divergence. Unless XRP quickly reclaims the $2.20–$2.25 area, the risk of further downside remains elevated, even with the ETF narrative.
Dogecoin (DOGE): Bounce or Bull Trap?
Dogecoin managed to climb 3.5% to around $0.152 after hitting a low of $0.14 — one of its weakest levels in months. While the bounce shows signs of strength in relative terms, the longer-term chart remains decisively bearish, marked by a series of lower highs since February.
Source: Tradingview
Retail interest in meme coins appears to be waning, and without Elon Musk-driven catalysts, DOGE may continue to underperform in an environment favoring high-utility tokens.
Final Thoughts: What the Altcoin Bounce Really Means
While the bounce in SOL, XRP, and DOGE is a welcome relief after the weekend bloodbath, it remains a fragile and largely technical rebound. Key resistance levels have yet to be broken, and volume suggests traders are still cautious.If Bitcoin manages to hold above $100K and ETF inflows pick up, we could see stronger altcoin rotation in the coming weeks. But for now, the market remains in wait-and-see mode, and any bullish momentum should be treated with skepticism unless backed by macro strength or fundamental catalysts.
