XRP News Today: Bitcoin Surges 20% to New All-Time High of $118,900

Bitcoin has recently reached unprecedented heights, surging to an all-time high of approximately $118,900. This significant price increase has garnered substantial attention and speculation from traders and analysts worldwide. The bullish momentum driving this surge is evident, with technical indicators suggesting a continued upward trend. Several key Fibonacci-based price targets have been identified, with the most conservative target sitting around $121,000, indicating potential for further price appreciation in the near future.

Analyst Crypto Patel highlights that the momentum remains strong, with Bitcoin recently completing a Juda Swing move. This smart money concept involves a deliberate price dip to grab liquidity before reversing, shaking out impatient traders and setting the stage for a more substantial move. Patel notes that Bitcoin executed this swing perfectly, dipping into the liquidity zone and tapping into the weekly Fair Value Gap. This action has initiated a range expansion, which is already underway.

The chart analysis reveals several key Fibonacci-based price targets for this expansion. Starting from the most conservative, the first major target is around $121,722. If Bitcoin maintains its current momentum, the next level is projected around $126,236. Further targets are outlined at $134,983 and the most ambitious one at $140,344. This suggests that if Bitcoin follows the full range expansion laid out by the technical model, it could rise another 20% from its current levels and potentially more, pushing BTC into new price discovery territory with potential short squeezes and retail FOMO as it breaks above $120,000 and heads towards $130,000 or even $140,000.

As of now, Bitcoin is hovering near the $116,894 mark, aligning closely with the 0.27 Fibonacci level at $115,937, which is acting as a resistance zone. A strong weekly close above this line could confirm the breakout and set the stage for the next target near $118,200. If Bitcoin rejects from here and pulls back, the next support level is around $112,128. However, even if a short-term correction occurs, the broader trend still favors upward expansion.

Crypto Patel’s analysis is grounded in clear chart structure, Fibonacci math, and past BTC behavior. The path from $118,000 to $140,000 may not be linear, but the structure is in place for it to happen. The weekly timeframe is particularly significant as it tends to filter out noise and reveal the real directional bias of smart money. Whether Bitcoin hits $140,000 in this cycle will depend on how it reacts to these critical levels. With BTC forming higher highs and respecting bullish setups like the Juda Swing and FVG retests, the odds are stacking up in favor of continued growth.

Bitcoin's new all-time highs have driven significant altcoin price increases, highlighting growing institutional interest. This surge reflects broader market optimism and underscores altcoin potentials. Cardano experienced a price surge exceeding 20%, partly driven by its Plomin hard fork and Brave integration. Charles Hoskinson, Founder of Cardano, emphasized, "The major upgrades emphasize governance decentralization and ecosystem expansion, rather than short-term price action." XRP also saw dramatic gains, reportedly due to speculation about the Crypto Strategic Reserve.

Institutional interest in XRP is driven by talk of a strategic reserve, fostering optimism in its increased adoption. However, this remains speculative, with no official governmental confirmations. Technological advancements in Cardano also intensify, further impacting market expectations. Historical trends suggest Cardano’s sharp price rebounds often follow ecosystem updates, highlighting a past pattern. XRP rallies typically connect with institutional interest, aligning it with current market sentiment. These insights predict further potential extensions of gains.

The surge in Bitcoin's price has also been accompanied by significant institutional inflows, further fueling its ascent. This new all-time high, surpassing $118,000 in early July 2025, is a testament to the growing interest and investment in the cryptocurrency market. The alignment of Bitcoin's record-breaking performance with the surges in altcoins like Solana has delighted investors, who are increasingly viewing BTC as a "digital gold" hedge. This mainstream institutional shift signals a broader acceptance of Bitcoin as a valuable asset, driving its price to new heights and potentially setting the stage for a massive tech-crypto supercycle.