Solana Surges Past $120 as Crypto Market Sees Slight Gain

The cryptocurrency market experienced a slight gain of around 2% over the past 24 hours, bringing its total market capitalization back within sight of $3 trillion. This comes as both Solana and Ripple's XRP led gains among top cryptocurrencies, while Bitcoin struggled to hold above the $84,000 mark.

Solana's price surged to $120 for the first time in eight months, a 4% gain from the previous day, with XRP rising by as much as 5.4% to around $1.50. Retail sentiment around both cryptocurrencies trended bullish, with XRP's sentiment shifting from 'bullish' to 'extremely bullish.'

Bitcoin's price, however, edged 0.3% lower in the last 24 hours, trading at around $83,900. Despite this, retail sentiment remained in the 'bullish' zone on Stocktwits.

Recent spot Bitcoin ETF flows have provided another source of support for the broader crypto market, recording six consecutive days of inflows and turning positive for 2026. At one point in July, these ETFs were down $5.8 billion in net outflows for the year, but now stand at a cumulative $800 million.

Crypto analyst Ted Pillows said Bitcoin needs to reclaim $85,300 to establish a stronger uptrend, while ITC founder and CEO Benjamin Cowen noted that the weekly Bitcoin close could set the tone for the fourth quarter. A sustained move above the May high would strengthen the bullish case, while a move back below that level could point to a failed breakout.