Houston general manager Jeff Luhnow said Springer suffered a Grade 2 sprain, but would not give a timetable for how long the outfielder would be out.
Houston manager AJ Hinch said Springer will miss more than 10 days.
"Our doctors have told us that he's injured, but it's not as dramatic as we have feared," Hinch said. "He's going to be out a little while, and he's going to exceed the 10 days, but they were encouraged by their findings and observations. He's really sore. He's not going to do anything for the foreseeable future. Hopefully, if the initial diagnosis is right, we avoided the catastrophe."
Springer, who is batting .308 this season with an American League-leading 17 home runs and 43 RBIs, suffered the injury trying to make a sliding catch on a foul ball in the eighth inning of Friday's game against the Boston Red Sox. Springer was playing in his first game back after missing the previous four with a stiff back.
Altuve has been out since May 11 with a left hamstring strain after beating out an infield single.
Hinch said Altuve will start a rehabilitation assignment with Triple-A Round Rock on Sunday and will play at least a couple games there.
Houston recalled outfielder Derek Fisher from Triple-A Round Rock to take Springer's spot on the roster.
Springer exits in the 8th with injury
George Springer puts on the jets in an attempt to catch a foul ball but he slides awkwardly and would leave the game in the Astros' win over the Red Sox.