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Altcoins Ride Bitcoin’s Coattails as DOGE, XRP, ETH, SOL Surge—Just in Time for the Next ’Crypto Renaissance’

Altcoins Ride Bitcoin’s Coattails as DOGE, XRP, ETH, SOL Surge—Just in Time for the Next ’Crypto Renaissance’

Author:
Coindesk
Published:
2025-05-09 11:57:30
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Bitcoin breaks through resistance—and suddenly, every altcoin’s a ’fundamental play’ again. DOGE’s 20% pump? Obviously ’utility-driven.’ XRP’s rally? Clearly ’institutional adoption.’ Never mind that half these projects still run on hopium and Elon tweets.

Ethereum leads the pack with its Layer 2 ecosystem firing on all cylinders, while Solana’s downtime issues magically vanish when SOL pumps 30% in a week. Meanwhile, traders rotate out of ’safe’ tech stocks faster than a VC dumping tokens on retail.

The real winner? Leverage. As liquidity floods back into crypto, exchanges report record futures open interest—because why hodl when you can 100x your way to bankruptcy?

DOGE and XRP daily charts with Ichimoku clouds. (TradingView/CoinDesk)

The chart shows XRP and Doge moving above their respective Ichimoku clouds, signaling more gains.

In XRP’s case, the breakout shifts focus to resistance at around 30 cents, characterized by the trendline falling from February highs. DOGE is trading close to its bear market trendline, which, if topped, WOULD expose resistance at $3.02, the lower high created on March 2.

ETH and SOL daily chart with Ichimoku clouds. (TradingView/CoinDesk)

In ETH’s case, the breakout has opened the doors to the 200-day simple moving average (SMA) at $2,700. Meanwhile, SOL may encounter resistance at $218, the 61.8% Fibonacci retracement of the January to April sell-off.

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