XRP News Today: Bitcoin Hits New All-Time High at $111,980 Amid Tariff Uncertainty Clearance

Bitcoin, Ethereum, and XRP have experienced a significant rally, driven by the clearing of tariff uncertainty and the potential for further gains. Bitcoin, the largest cryptocurrency, hit a new all-time high on Wednesday, July 9, retesting the peak at $111,980. Since then, it has entered price discovery, inching closer to the $120,000 level. The next target for Bitcoin is the 127.20% Fibonacci retracement level of the rally from the April low of $74,508 to the July all-time high of $118,869, which is $130,935. Currently, Bitcoin is trading 11% away from this target.

A key momentum indicator, the MACD, shows green histogram bars above the neutral line, indicating underlying positive momentum in Bitcoin’s price trend. The RSI suggests that BTC is currently overvalued, and traders should watch this indicator closely for a potential trend reversal. If the RSI slips back under 70, it could generate a sell signal.

Ethereum and XRP are also rallying alongside Bitcoin. Ethereum kicked off a bull run in response to Bitcoin’s break above the May 22 peak of $111,980, rallying past the psychologically important resistance at $3,000 on Friday. XRP climbed to a peak of $2.70 on July 11, the highest level for the altcoin in nearly four months. Both Ethereum and XRP enjoy a relatively high correlation with BTC, catalyzing gains in Ether and XRP alongside Bitcoin.

Ethereum’s next target is the $3,500 level, above the resistance at $3,478, the 23.6% Fibonacci retracement of the drop from the December 2024 peak of $4,122 to the April low of $1,391. Ether is currently 17% under its $3,500 target, and consistent demand from institutional traders could drive the altcoin higher. XRP is trading above key resistance at $2.70, at $2.77 at the time of writing. The native token of the XRP Ledger could continue its upward momentum, as the momentum indicators on the daily timeframe are bullish. Rallying consecutively for six days, XRP has yielded over 20% gains for holders.

The network realized profit/loss metric helps track whether traders are taking profits. Bitcoin traders are consistently taking more profits on their holdings as BTC rallies higher. Ether recorded a large spike in profit-taking, and XRP traders are taking profits at a slower pace compared to June 2025. Bitcoin has recorded a decrease in the number of holders, while Ethereum and XRP have noted an increase in 2025. The decrease in Bitcoin’s holders corresponds to the increase in price, meaning traders are likely redistributing their holdings, while large wallet holders and institutions are accumulating further.

Bitcoin’s retail traders holding less than 1 BTC have shed their holdings, while traders with 10 to 100 and 100 to 1,000 BTC have increased their exposure. BTC whales are scooping up more Bitcoin, while small wallet investors and retail traders distribute their holdings.

Trump administration officials had initially suggested that the U.S. would strike several deals with trade partners by Wednesday, July 9. However, instead of announcements, the President set new rates for different countries while delaying the imposition of tariffs until August 1, the next key date for crypto traders to watch. Japan, South Korea, and several other nations face at least 25% tariffs starting from August; Brazil faces 50% tariffs, among others. The country has warned of reciprocal tariffs, with no further measures for now. The U.S. is imposing 35% tariffs on Canada, starting August 1. Southeast Asian countries face between 30% and 40% tariffs. Stock markets responded positively to the news and the Trump effect pushed Bitcoin to a new peak.

Petr Kozyakov, co-founder and CEO at Mercuryo, noted that Bitcoin has surged past $118,000 to a new all-time high amid sustained institutional demand for the biggest cryptocurrency, which has been such a driving force in this current market cycle. While altcoins are also in the green with Ethereum spiking past the $3,000 mark, the underlying ‘orange pill’ narrative remains steadfastly in place. Bitcoin’s growing status as a store of value is one that more and more big players and institutions are simply unable to ignore. This is evidenced by sustained inflows into spot bitcoin ETFs this week.

Nick Jones, founder and CEO of Zumo, added that with Bitcoin setting a fresh record high, the market is booming. The rise is underpinned by increasing institutional adoption and resurgent retail demand, reflecting confidence that crypto has arrived in the mainstream and is now reshaping finance.