Altcoin Rally: Can XRP, Ethereum, and Solana Bounce Back in Q2?

Cryptocurrency market performance is often influenced by macroeconomic factors, but individual coins also have their own unique challenges. In Q1 2026, XRP, Ethereum, and Solana experienced significant drops in value due to a combination of these factors.

XRP, for instance, had its worst quarter since 2018 despite Ripple's growth, as the token's price dropped by 27.1%. This was partly because banks were settling payments through RLUSD and fiat instead of XRP, and the company's success wasn't reflected in the token's price.

Ethereum also struggled due to layer 2 networks taking over most transactions, resulting in a significant drop in mainnet fee revenue. Institutional demand for ETH also pulled back during this period.

Solana's rally in 2024 and 2025 was largely driven by meme coin speculation, but when the hype faded, the network saw a sharp decline in revenue and fees.

However, with the ceasefire between the U.S. and Iran easing pressure on financial markets, these altcoins are now rallying. XRP, Ethereum, and Solana have all seen significant price increases since April 7, but their underlying issues still exist. If the war settles and catalysts like the CLARITY Act pass, Q2 could be a turning point for these coins.