Solana News Today: Bitcoin Hits $118,787.28, Solana Surges 7% on ETF Launch, XRP Gains 3.1%

Bitcoin, Solana, and XRP have continued to gain ground this month, with analysts noting that despite the bullish rally, the market is not yet overheated. On-chain data and recent ETF activity suggest more growth could be ahead as investor confidence remains steady.

Bitcoin, the largest digital asset, reached a new all-time high in July 2025. However, analysts stated that the market remained stable, with indicators that typically signal overheating remaining low. This suggests that the rally could continue without the usual short-term correction. CryptoQuant analyst Crypto Dan noted that compared to previous peaks in March and December 2024, the current cycle is showing less market stress. There was no sign of overheating despite Bitcoin setting new records. This analysis aligns with trends from early 2024, where rapid corrections followed strong price moves. However, this time, the data showed fewer short-term holders cashing out and less unrealized profit-taking, which often causes sharp pullbacks. These signs indicate that the rally might last longer, depending on market activity over the next few weeks. As of the time of writing, Bitcoin’s price was trading at $118,787.28, representing an 8.37% increase over the past seven days. It pulled back from its recent high following the release of US CPI data. If momentum continues, a potential cycle top around $150,000 cannot be ruled out.

Solana, the sixth-largest cryptocurrency, also moved higher this week, climbing more than 7% after news broke of the launch of the first U.S. ETF tied to the asset. The REX-Osprey SOL + Staking ETF (SSK) has gained momentum quickly and now holds nearly $100 million in assets. The ETF allows investors to gain exposure to Solana and its staking yield without holding the token directly. According to trading platform LuxAlgo, Solana has formed a symmetrical triangle pattern on the charts. A breakout from the pattern confirmed the bullish trend. The coin traded above key resistance levels, with analysts watching the $185 mark as the next target. Solana’s 9-day and 21-day exponential moving averages crossed upwards, a Golden Cross showing signs of strength. Some analysts said that if the 200-day moving average crosses soon, it could push prices even higher. While predictions varied, most technical signals continued to favor further growth for Solana.

Institutional interest in altcoins has picked up momentum in recent months with ProShares launching two leveraged futures ETFs for Solana and XRP. These ETFs, listed on the New York Stock Exchange, aim to deliver twice the daily performance of their underlying assets. Though the funds do not hold the actual tokens, their arrival shows increasing demand from investors for regulated crypto products. These launches followed earlier approvals of Bitcoin and Ethereum spot ETFs in 2024, which marked a shift in the regulatory environment. Market analysts said the rollout of Solana and XRP futures ETFs could lay the groundwork for future spot ETF approvals. For now, they help drive visibility and open up access for a wider group of investors. In the past 24 hours, Solana was up 2.9% and XRP rose 3.1%. Both assets have stayed among the top ten cryptocurrencies by market capitalization. This is accompanied by steady interest from both retail and institutional buyers. These signs collectively indicate that Bitcoin, Solana, and XRP are trending higher. In the long term, a $250 price target for Solana and $5 top for XRP remains the target issued by analysts.