Alt season signals are limited, XRP, Stellar (XLM), and Chainlink (LINK) are strengthening against the trend due to use cases and liquidity.

Although Bitcoin's market share remains above 60%, indicating that a full altcoin season has not yet arrived, certain tokens with clear application scenarios and sustained liquidity are showing independent trends. XRP, Stellar (XLM), and Chainlink (LINK) have become recent leaders, with their price pump mainly driven by actual demand, improvements in legal developments, and a strengthened infrastructure role, rather than overall market sentiment. Currently, the Altcoin Season Index is only 37, far below the threshold indicating a full rotation.

XRP stands firmly above 3 dollars, institutional liquidity support is strong According to CoinMarketCap data, the current trading price of XRP is approximately $3.23. The trading volume in the past 24 hours has exceeded $12.8 billion, with a total market capitalization of around $191 billion. XRP has risen over 65% in July, approaching the previous high point near $3.66. The positive expectations surrounding the Ripple lawsuit legal progress and stable investor support are key factors driving the pump. XRP has high activity on institutional-grade exchanges, providing strong liquidity support. The market predicts its trajectory will range from moderate consolidation to a push towards the $4 target, with the specific path depending on potential XRP spot ETF demand and macroeconomic factors.

Stellar (XLM) steadily rises, with technical indicators pointing to higher targets Stellar (XLM) is currently priced at 0.44 USD, with a market cap exceeding 1.39 billion USD. The daily trading volume is around 1.1 billion USD, and the price has risen over 50% in the past month. Following the conclusion of a long-term legal dispute involving another payment protocol, some investors have turned to Stellar for a more efficient cross-border payment solution. Consequently, trading platforms have increased the number of XLM trading pairs, effectively supporting the current price level. Technical indicators show that XLM is gaining momentum within the 0.41 USD to 0.50 USD range. If demand remains stable, multiple models predict that the Token may aim to test the 0.80 USD level in the coming weeks.

Chainlink (LINK) benefits from the essential need for DeFi infrastructure Chainlink (LINK) is trading above $19 despite moderate fluctuations, with its on-chain activity remaining stable. According to CoinCodex data, LINK has had 67% of trading days closing up in the past month. Daily trading volume remains high, and short-term forecasting models indicate it may move towards the $17.95 region before the end of August. As a core oracle provider for numerous DeFi applications, LINK offers crucial infrastructure support for price feeds and smart contract automation. Although it is not the hottest asset in current alt season discussions, LINK has maintained resilience due to its underlying technological strength and practical value. TradingView data shows its recent support level is around $15.90, with resistance at around $18.10.

Structural Altcoin Market: Liquidity and Application are King The current alt season index is only 37, significantly lower than the threshold that indicates a comprehensive market rotation, suggesting that Bitcoin still holds a dominant advantage over alts. However, the independent strength of XRP, Stellar, and Chainlink highlights the structural characteristics of this altcoin market — its momentum mainly stems from actual liquidity depth and specific application scenario demand, rather than mere trend speculation. Market participants are viewing the alt season with a more cautious attitude. The focus is shifting from high-risk Tokens to projects that play a stable infrastructure role in the crypto ecosystem. The three aforementioned Tokens have attracted stable capital inflows without the need for new catalysts. This transformation may reflect a gradually maturing market: alt season no longer relies on rapid emotional fluctuations, but unfolds in segments and tracks, driven by real trading volume, infrastructure value, and practical application utility.

Conclusion: In the market landscape dominated by Bitcoin, selected altcoins are emerging with independent trends, supported by solid fundamentals and real application demand. The counter-trend strength of XRP (legal progress + institutional liquidity), Stellar (payment alternative demand + increase in trading pairs), and Chainlink (DeFi oracle necessity) provides investors with a layout approach that focuses more on the project's practical value and liquidity depth in the current market environment. Whether the future market can welcome a broader alt season still needs to be observed in relation to changes in overall risk appetite and the evolution of Bitcoin's dominance.