XRP News Today: Bitcoin Surge to $120,000 Drives 17% Ethereum Gain, 25% XRP Jump

Bitcoin's recent surge to $120,000 has catalyzed a broader rally across major cryptocurrencies, with Ethereum, Solana, XRP, and Dogecoin all experiencing significant gains. This price action is not merely driven by momentum but reflects a shift in market structure influenced by institutional players. According to Seamus Rocca, CEO of Xapo Bank, this ascent is "a measured ascent, backed up by large institutional players with the long-term in mind." The tight monetary policy and geopolitical volatility have reinforced Bitcoin's role as a macro hedge, positioning it as a genuine asset class rivaling traditional finance.

Ethereum, which has seen a 17% increase this week and briefly crossed $3,000, is a primary beneficiary of this trend. According to the analytics team at Bitcoin yield protocol TeraHash, corporate treasury purchases of BTC have outpaced inflows into spot ETFs, indicating strategic positioning. Custodians like Anchorage and Fidelity are scaling institutional pipelines, while OTC desks are tightening spreads. Solana, trading around $163, gained over 11% on the week amid renewed demand across retail and memecoin ecosystems. XRP, meanwhile, jumped 25%, benefiting from both a technical breakout and rising speculation around regulatory resolution.

The altcoin move is broad-based. Dogecoin has rallied 23% over the past week, driven by increased retail participation through platforms like Robinhood and Binance. XRP volumes have spiked on Korean exchanges, while Cardano, TRX, and AVAX are all trading firmly in the green. Bitpanda Deputy CEO Lukas Enzersdorfer-Konrad noted that strong bitcoin rallies are often followed by significant movements in altcoins with a slight delay, and a potential comeback of meme coins can’t be ruled out either.

However, not all analysts see a straight line up. Ruslan Lienkha, Chief of Markets at YouHodler, pointed out that despite briefly touching this key milestone, BTC remains below a major resistance zone. A decisive breakout and sustained move above this level could trigger a sharp upward rally, potentially targeting the $130,000 range, according to the analyst's forecast.