Solana (SOL) and XRP Surge 5% While Bitcoin Struggles at $84K

XRP jumped 5% after a strong week for Ripple Labs, which secured a payments license in the UAE and is reportedly nearing a resolution in its lengthy legal battle with the U.S. SEC.

Key Takeaways:

• Solana's SOL and XRP surged 5%, with SOL's rally driven by the resolution of SIMD-0228, keeping its inflation schedule unchanged.
• Ripple Labs, closely linked to XRP, secured a payments license in the UAE and is reportedly nearing a resolution in its SEC lawsuit.
• Memecoins like PEPE, TOSHI, and DOGE saw notable gains, signaling increased risk appetite among traders as Bitcoin consolidates.

Solana’s SOL and XRP climbed 5% in the past 24 hours, outperforming other major cryptocurrencies on Saturday, while Bitcoin (BTC) faced resistance at the $84,000 level.

SOL jumped 7% as the contentious SIMD-0228 proposal concluded late Thursday, with voters rejecting the proposed change and maintaining Solana’s existing inflation schedule. The proposal saw the highest voter turnout in Solana’s governance history, with opponents arguing that its approval could disrupt the network’s thriving DeFi ecosystem and deter institutional interest.

Meanwhile, XRP gained 5% after a strong week for Ripple Labs, which secured a payments license in the UAE and is reportedly nearing a resolution in its prolonged legal battle with the U.S. Securities and Exchange Commission.

Meanwhile, memecoins surged on Friday, with tokens like pepecoin (PEPE), toshi (TOSHI), and dogecoin (DOGE) gaining as much as 40%, injecting volatility into an otherwise flat market.

Base-based TOSHI led the rally with a 38% jump, while PEPE climbed up to 12% before retracing in European afternoon hours. Additionally, Base-based KEYCAT skyrocketed over 100% after announcing a partnership with Acheron Trading as its official market maker, a move aimed at improving liquidity and increasing exchange presence.

This broader memecoin surge signals a shift in trader sentiment, as Bitcoin's sideways trading encourages speculation in higher-risk, higher-reward assets.

BTC ended the week down 3%, a slight improvement over previous weeks, which saw extreme volatility push prices between $75,000 and $95,000, marking a 20% drop from January’s peak above $108,000. Traders remain focused on macroeconomic trends and potential rate cuts for further market direction.

“The recent cooling in inflation strengthens the case for potential rate cuts later this year,” said Agne Linge, head of Growth at WeFi. “However, ongoing geopolitical and economic tensions, particularly from the trade war, complicate the Federal Reserve’s policy trajectory.”

Bitcoin’s sharp price swings over the past two weeks, fluctuating between $79K and $85K, highlight its growing sensitivity to macroeconomic conditions—suggesting it is behaving more like a risk-on asset than a traditional store of value. This volatility is expected to continue as geopolitical uncertainties shape market sentiment, Linge added.

Alex Kuptsikevich, chief market analyst at FxPro, noted that traders should watch for a decisive break above $89,000 for a bullish shift. “Only if the market breaks above its 200-day moving average can we see a return to growth. For now, market dynamics resemble a bumpy downtrend,” Kuptsikevich said. “Bears are regaining control on rebounds near the $83,500 level.”