XRP, Solana and Dogecoin Slide as Crypto Market Contracts by 5%

Back and forth headlines about the institution of President Donald Trump’s trade tariffs have led to volatility in the crypto market, now down nearly 5% in the last 24 hours according to CoinGecko. It’s been led by a pullback in alts like XRP and Solana.

The pair have dropped by 4.5% and 5.1% respectively, underperforming Bitcoin in the process, which has only fallen by 1.6% to $105,370 in the same time frame.

Other popular alternative crypto assets, like Dogecoin and Sui have fallen as well, dropping nearly 8% and 3.3% respectively in the last 24 hours. Further down the list, other altcoin darlings like Chainlink and Avalanche have dropped at least 5%.

Given the slide in alts, Bitcoin dominance is once more on the rise, now tracking at 64.14% according to TradingView after hitting a four-year high earlier this month.

The market’s slide amid confirmed GDP contraction and cooling ETF activity has some analysts cautious in the near-term.

For example, investment firm BRN is de-risking in the near-term, but  maintaining its overweight position in Bitcoin, but trimming its SOL position thanks to recent underperformance.

“Bitcoin’s dominance rose again, reinforcing its resilience during market downturns. However, we expect further short-term weakness, especially with limited ETF activity over the weekend,” wrote BRN Lead Research Analyst Valentin Fournier in a Friday market note.

“We expect a temporary drop toward the $100K level before a broader move toward $130K-$150K, after which altcoins could take over. We reduce exposure and maintain overweight on Bitcoin.”

Further market uncertainty could be in the cards as courts continue the back-and-forth over Trump’s trade tariffs, but one analyst recently told Decrypt that the outlook could change quickly if policy clarity is found.

Edited by Stacy Elliott.