How Steph Is Crypto and Market Analysts Are Reading the Altcoin Season Transition

Recent market dynamics have triggered a fresh wave of optimism among cryptocurrency traders and analysts who track major altcoin movements. The focus has sharpened on XRP, which has emerged as a bellwether for broader market sentiment shifts. Steph Is Crypto, a widely followed market analyst on X, has been examining these trends closely and suggesting that a significant altcoin season could be materializing in the months ahead. This perspective aligns with broader technical indicators pointing toward a market rebalancing between Bitcoin and the wider altcoin ecosystem.

Understanding Altcoin Season: A Cyclical Market Pattern

To contextualize the current environment, it’s important to look at how altcoin seasons have historically unfolded. Market participants reference the Altcoin Season Index, which measures whether overall market momentum favors Bitcoin or the broader altcoin market. This index has shown distinct patterns over the past few years.

The first notable altcoin season cycle marked on records occurred in mid-2023, when a significant XRP lawsuit ruling catalyzed a rally that pushed the token to $0.93—its highest level at that time since 2021. In early 2024, the market experienced another altcoin rotation, with XRP climbing to $0.74 despite ongoing legal headwinds. The most recent and dramatic altcoin season unfolded through late 2024 and into early 2025. During this window, XRP experienced substantial appreciation, surging from $0.55 in November 2024 to an all-time high of $3.65 in January 2025.

Importantly, Steph Is Crypto has noted that the current Altcoin Season Index is now positioned just below its midpoint threshold near the 47 level. Historically, such readings have preceded robust altcoin inflows. Veteran trader Peter Brandt has similarly flagged that market conditions are aligning toward another altcoin season emergence.

Where XRP Stands in the Current Market Cycle

XRP’s price trajectory reveals important clues about market sentiment. The token entered 2025 with momentum, reaching its peak of $3.65, but market dynamics have since evolved. As of February 2026, XRP is trading at $1.38, down 0.86% on the 24-hour chart. While this represents a pullback from January highs, the broader context matters: XRP has still appreciated significantly from its November 2024 lows around $0.55.

This price action reflects the volatile nature of altcoin cycles. Analysts like Steph Is Crypto view such consolidations as natural phases within larger market transitions. The key observation is that XRP maintains a position well above support levels that defined earlier market bottoms, suggesting underlying structural support remains intact.

What Market Observers Are Monitoring

The convergence of several factors has captured analyst attention. The Altcoin Season Index’s movement away from Bitcoin-dominance readings signals a potential reweighting in market participant preferences. When Bitcoin’s market dominance shrinks, altcoins typically begin attracting capital rotation. XRP has historically played an outsized role in signaling these transitions.

Steph Is Crypto and similar market observers are watching for further confirmation that the market is decisively entering an altcoin phase. If such a transition materializes fully, altcoins like XRP could experience renewed momentum in coming months. However, the current price action—with XRP trading at $1.38 rather than near its January peak—reminds traders that market cycles involve consolidation periods alongside explosive rallies.

The broader takeaway from analyst commentary is that while historical patterns suggest altcoin seasons do follow identifiable cycles, entry points and timing remain challenging to pinpoint precisely. What appears clear is that the market structure is shifting, and tokens like XRP are positioned to capture upside if the anticipated transition develops as technical indicators suggest.