XRP News Today: Bitcoin Surges 100% to $113,788 on Institutional Flows and Regulatory Support

Leading analysts have predicted significant breakthroughs in the cryptocurrency market, with Bitcoin's recent surge to $113,788 reigniting interest and reclaiming support levels. This surge has been driven by a combination of factors, including institutional adoption, regulatory developments, and technical analysis. The global head of digital assets research at a major bank has predicted that Bitcoin will reach another all-time high of around $135,000. This prediction is based on the current market trends and the increasing institutional interest in Bitcoin. Markus Thielen from 10x Research has also predicted a 60% chance that Bitcoin prices will rise substantially within the next two months. According to Thielen, the political pressure on the Federal Reserve, with Donald Trump demanding rate cuts and the resignation of Fed Chair Jerome Powell, has triggered massive institutional flows into Bitcoin ETFs. Since mid-April, Bitcoin ETFs have accumulated $15 billion worth of Bitcoin, creating relentless buying pressure.

The surge in Bitcoin's price has also been attributed to declining volatility, which historically precedes major upward moves. Paul Howard from Wincent has provided technical insight into the breakthrough, noting that the move in Bitcoin prices was led by some ETF purchasing overnight. Howard expects Bitcoin to continue trading around the $110,000 level for the short term, based on options market positioning. Ethereum has also seen significant gains, with its price jumping 7% to $2,790. Ethereum's rally has been amplified by forced liquidations of leveraged shorts, creating a cascade effect that has driven the price higher. Digital asset manager Bitwise's analysts have identified ETH as one of the "cleanest" token plays for the tokenization trend, while long-only institutions are betting on Ethereum's future role in asset tokenization.

XRP has also gained significant traction, with its price rising for the third consecutive session. The breakout above the downward trendline drawn from the beginning of 2025 has opened the way for a potential retest and breakout of the local highs from May. The XRP surge reflects broader altcoin outperformance, as the rally extends beyond Bitcoin to encompass major alternative cryptocurrencies. Dogecoin, on the other hand, has shown technical strength with a 6% surge during recent trading sessions. However, it has lost momentum and is currently trading slightly above 18 cents. Dogecoin is currently performing the weakest among the cryptocurrencies analyzed, but it has rebounded by around 30% from last month’s bottom and is once again approaching its psychological resistance level around 20 cents.

The regulatory environment is becoming increasingly supportive of digital asset growth. Industry leaders have emphasized the critical importance of upcoming regulatory developments, noting that growing retail adoption is driving the demand for regulatory clarity. The institutional narrative extends beyond traditional finance into corporate treasury strategies, with growing corporate interest in Bitcoin as a treasury asset. The crypto price surge has also triggered the largest wave of liquidations since May, with over $460 million in short positions wiped out. This massive short squeeze has created a cascade effect, with waves of liquidations accelerating price movements higher across major cryptocurrencies. Onchain analysis firm Santiment has identified a crucial pattern supporting the digital currency rise: retail trader-based wallets have been notably absent from the current move, historically indicating prime conditions for sharp upside moves.

In summary, the cryptocurrency market is experiencing significant breakthroughs, driven by institutional adoption, regulatory developments, and technical analysis. Bitcoin's surge to $113,788 has reignited interest in the market, with analysts predicting further gains. Ethereum, XRP, and Dogecoin have also seen significant gains, reflecting broader altcoin outperformance. The regulatory environment is becoming increasingly supportive of digital asset growth, and the crypto price surge has triggered a massive short squeeze, creating a cascade effect that has driven prices higher.