XRP News Today: Bitcoin Surges 6% Past $106,000, Altcoins Gain 7-9% Despite Iran Ceasefire Break

The cryptocurrency market has shown significant movement, with Bitcoin (BTC) surging past $106,000, followed by strong gains in altcoins. However, prices experienced a slight pullback after Iran broke the ceasefire deal. Despite this, the market remains in the green, with XRP and Cardano (ADA) holding onto impressive gains of 7–9%.

Analyst Michaël van de Poppe noted that Bitcoin has officially flipped the trend, moving from a major crash below $100,000 to an uptrend, breaking past $103,000 and hitting resistance. Crypto Rover highlighted how Bitcoin has historically reacted to U.S.-Iran conflicts, suggesting that if the conflict de-escalates, Bitcoin could be setting up for another strong rally.

Analysts are confident in their $120,000 target for Bitcoin this year, citing the cryptocurrency's resilience above $100,000 despite geopolitical tensions. Falling oil prices and expectations of a Fed rate cut in July are also boosting investor confidence.

XRP is at a critical juncture, with institutional interest picking up and the odds of an XRP ETF approval higher than ever. The long-standing Ripple vs. SEC case is nearing resolution, which could fuel a major rally. Additionally, Ripple is collaborating with Cardano to integrate XRP into DeFi, potentially allowing XRP holders to earn rewards, including NIGHT tokens from Cardano’s upcoming airdrop. This convergence of factors could lead to XRP's biggest breakout in years, similar to its previous surge from $0.50 to $3 in just six weeks.

Cardano's new protocol, Midnight, could be the catalyst for its breakout. Built directly on Cardano, Midnight relies on it for security, governance, and token movement. The upcoming NIGHT token airdrop, with 50% of the supply going to ADA holders, is significant. If Midnight succeeds, it could quickly become a top 25 project, directly boosting Cardano’s value. Charles Hoskinson confirmed that the Lace wallet, which already supports ADA and BTC, will soon support XRP too. He is also working on a cross-chain bridge between XRP and Midnight’s sidechain. The odds for a Cardano ETF approval in 2025 have jumped to 79%, indicating growing momentum for Cardano.

Looking ahead to Q4, Fed rate cuts and increased liquidity could spark the next big crypto rally. If global tensions cool and central banks ease up, Bitcoin, XRP, and Cardano could be poised for significant gains.