XRP News Today: Bitcoin Surges to $119,000, Sparking Altcoin Rally with XRP and Ethereum Gains

Bitcoin has recently surpassed $119,000, marking a new all-time high (ATH) and igniting a fresh wave of bullish sentiment across the cryptocurrency market. This surge in institutional interest is evident, with MicroStrategy, led by Michael Saylor, purchasing 4,225 BTC worth $472.5 million just days ago. Binance founder CZ has also expressed optimism, stating that current ATHs are merely a fraction of what is to come.

With Bitcoin leading the charge, attention is now turning to altcoins, particularly XRP and Ethereum (ETH), both of which are experiencing rapid growth. The key question is which of these altcoins will reclaim its ATH first. Currently, XRP is trading at approximately $2.99, about 22% below its ATH of $3.84, which was set on January 4, 2018. In contrast, Ethereum is trading at around $3,045, about 37.5% below its ATH of $4,878, which was reached on November 10, 2021.

XRP has shown strong performance this past week, gaining 30% and exhibiting robust technical and on-chain signals. Despite facing regulatory challenges, recent legal developments and increased trading volume have revitalized the token. With growing confidence, a potential XRP ETF, and its strong correlation to bull market trends, XRP could hit its ATH within weeks if the current momentum continues.

Ethereum, on the other hand, has recently surpassed the $3,000 mark, posting nearly 20% gains in the past week. Its fundamentals remain strong, driven by ongoing upgrades like Dencun and the upcoming Pectra update. Ethereum powers most of the DeFi and NFT ecosystems, and institutions are increasingly buying it alongside BTC. However, Ethereum still needs to climb approximately 37% to reach its ATH, which might delay its return to the peak unless the bull market accelerates significantly.

The momentum driving this surge is fueled by institutional buying, as evidenced by MicroStrategy's recent $472.5 million BTC purchase. Both Ethereum and XRP are benefiting from this trickle-down effect, rising with broader market confidence. CZ's recent comments have added to the long-term optimism, suggesting that current ATHs are just a fraction of what is to come.

Technically, XRP has a smaller gap to close, requiring only a 22% increase to reach its ATH, and it currently has stronger near-term momentum. Ethereum, while having broader fundamentals and adoption, needs a 37% rally to hit its ATH. If institutions continue to diversify their portfolios and the macro trend strengthens, XRP could be the first to reclaim its ATH.

The race between these altcoins is heating up, with both Ethereum and XRP poised to reach new heights in 2025. While Ethereum remains the leader in the DeFi space, XRP's explosive recovery and proximity to its ATH give it a short-term edge. Both altcoins are likely to see significant gains, but XRP might be the first to cross the finish line.