Can one speech from Jerome Powell really flip the entire crypto market? That’s exactly what happened at Jackson Hole. As soon as the Fed Chair confirmed that a September rate cut is on the table, Ethereum broke into a new all-time high at $4,870 and Bitcoin jumped to $117,000. The move has traders asking the question: is altseason finally here?
According to well-followed analyst VirtualBacon, Powell’s comments were nothing short of a pivot, and the charts are now backing that story
VirtualBacon explained that before Powell’s speech, markets were pricing about a 71% chance of a September cut. After the remarks, that probability jumped close to 90%. For crypto, that single shift in expectations became the spark. Bitcoin bounced from $113,000 to $117,000, Ethereum ripped through its ceiling, and major altcoins like Solana, Ripple, and Cardano all posted double-digit gains.
Ripple price action was especially interesting. While Ethereum stole headlines with its all-time high, XRP quietly pushed higher alongside Bitcoin and Solana. VirtualBacon noted that XRP price has been “grinding upward against BTC,” which is a sign of strength during an early altseason rotation.
8/x And the charts are screaming altseason.
— VirtualBacon (@VirtualBacon0x) August 22, 2025
🔹 $ETH just hit a new ATH at $4,870.
🔹 $BTC dominance is in weekly downtrend.
🔹 ETHBTC climbing nonstop since April.
🔹 $SOL + $XRP grinding higher vs $BTC.
This is textbook altseason. pic.twitter.com/T2VWEUdI2T
The Idea Behind the Expected Altcoin Rally
Why did Powell’s words matter so much? VirtualBacon broke it down simply. Over the past three months, U.S. jobs data was revised down sharply. Until now, Powell placed more weight on inflation risk than on unemployment. His latest comments balanced those risks. That balance is Fed-speak for rate cuts.
He even admitted directly that the current restrictive stance might need adjusting. For traders like VirtualBacon, that is as close as the Fed comes to saying “we’re cutting.” Lower rates typically mean easier liquidity, which often flows into assets like Bitcoin, Ethereum, and altcoins such as XRP. Think of it like easing the pressure on a water pipe: once the Fed turns the valve, liquidity leaks into risk assets almost immediately.
Ripple, XRP, and the Altseason Rotation
Ethereum hitting $4,870 stole the spotlight, but the conversation quickly spread to what this means for other major tokens. VirtualBacon highlighted that XRP price action has been moving steadily, not explosively. That slow grind, compared to Ethereum’s breakout, is “textbook altseason behavior” where large caps take turns leading the market.
Ripple has long been framed as the “banker’s coin,” and while it doesn’t often get the same hype cycles as ETH or SOL, its performance during pivots has historically been strong. VirtualBacon’s portfolio breakdown even showed a heavy tilt toward large caps, with XRP included in his 80% altcoin exposure.
Many investors still carry bear-market hesitation. VirtualBacon warned against that mindset, saying, “Don’t let bear market PTSD blind you. When markets turn, they turn fast.” Ethereum’s new ATH signals more than just a number — it suggests the market structure has shifted. Bitcoin dominance is trending down, ETHBTC has been climbing since April, and altcoins like Ripple are showing relative strength.
This setup, he pointed out, hasn’t appeared since 2022. Back then, once large caps began rotating, the rest of the market followed. If history rhymes, Ripple price could be setting up for a bigger move as liquidity spreads beyond ETH
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Ethereum’s $4,870 milestone after Powell’s pivot feels like the official starting bell for altseason. Bitcoin looks strong, Ripple price is quietly building momentum, and XRP price charts are aligning with the broader rotation narrative. VirtualBacon’s playbook is clear: focus on the leaders first, then rotate into the rest.
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