# Bitcoin Hits $116,868 as Ethereum, XRP Rally

**Published:** 2026-09-11T09:06:58.366Z  
**Topic:** Ripple Xrp  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/7026bfe4-7b05-47eb-af64-c93d971b34bc

Bitcoin surged to a new all-time high of $116,868, with Ethereum retesting $3,000 and XRP closing above $2.47, signaling broader crypto market momentum.

Bitcoin (BTC) reached a new all-time high of $116,868 on Thursday, extending a bullish run that also saw Ethereum (ETH) retest the $3,000 resistance level and XRP close above $2.47 [2]. This upward movement across the top three cryptocurrencies indicates strong market momentum, with traders now watching for further gains [2].

| At a glance | |
|---|---|
| Bitcoin Price | $116,600 [2] |
| Ethereum Price | $2,970 [2] |
| XRP Price | $1.07 [1] |
| Bitcoin All-Time High | $116,868 [2] |

## Bitcoin and Ethereum's Recent Performance

Bitcoin's latest surge follows a period of consolidation around $108,355, breaking out on Wednesday to hit its new record high of $116,868 on Thursday [2]. As of Friday, BTC trades above $116,600, with analysts eyeing $120,000 as the next psychological target [2]. The Relative Strength Index (RSI) for Bitcoin is at 71, indicating strong bullish momentum, though it is above the overbought level of 70, which suggests a potential for pullback [2]. Bitcoin has historically peaked 12 to 18 months after each halving event, which reduces the supply of new coins [1].

Ethereum also saw a significant rally, rebounding from support at $2,461 last week to climb 10% and close above $2,724 on Wednesday [2]. It continued its ascent with a 6.59% gain the following day, retesting the $3,000 mark [2]. Ethereum currently hovers around $2,970 [2]. Its RSI stands at 72, also indicating strong bullish momentum and an overbought condition [2]. Ethereum's all-time high was $4,950 in August 2025, following the launch of spot Ethereum ETFs in July 2024 [1].

## XRP's Lagging Recovery

In contrast to Bitcoin and Ethereum, XRP has not reached a new all-time high, currently trading around $1.07, which is 72% below its January 2018 peak of $3.84 [1]. While XRP did rally to $3.65 in July 2025 after a court ruling found XRP sold on exchanges was not a security and the SEC case closed in August 2025, it still fell short of its previous record [1].

A primary factor in XRP's struggle to break its all-time high is the increased circulating supply [1]. At its 2018 peak, approximately 34 billion XRP were in circulation, giving it a market capitalization of $130 billion [1]. Today, about 63 billion XRP are circulating, meaning the market capitalization would need to reach roughly $242 billion for XRP to hit $3.84 again [1]. Ripple, the company behind XRP, releases up to a billion XRP from escrow monthly, though most are re-locked, contributing to the growing supply [1]. Unlike Bitcoin's halvings or Ethereum's staking and transaction fee burns, XRP lacks mechanisms to significantly reduce its circulating supply [1].

Furthermore, Ripple's business growth, including its national trust bank charter and stablecoin RLUSD, does not directly translate to XRP's price [1]. Owning XRP does not confer a claim on Ripple, and the company's acquisitions and operations, such as Ripple Prime and Ripple Treasury, primarily generate fees in dollars [1]. RLUSD, Ripple's stablecoin, has a market capitalization exceeding $1.5 billion since its December 2024 launch and is used for settling tokenized fund trades, with XRP only covering a minimal network fee of 0.00001 XRP per transaction [1].

## What to watch

*   **Bitcoin's $120,000 level:** Monitor if Bitcoin can sustain its rally and break past the $120,000 psychological resistance, or if its overbought RSI leads to a correction [2].
*   **Ethereum's $3,000 close:** Watch for Ethereum to close above $3,000 on a daily basis, which could signal a further rally towards $3,730 [2].
*   **XRP Ledger's lending protocol:** Observe the progress of the XRP Ledger's lending protocol, which requires 80% validator approval to allow holders to lock XRP for fixed-term loans, potentially reducing circulating supply [1].

The divergence in performance between Bitcoin and Ethereum, driven by institutional adoption and supply-side mechanics, and XRP, constrained by its tokenomics and the limited utility in Ripple's core business, highlights the varied factors influencing major cryptocurrencies.

## Sources
1. 24/7 Wall St — [Why Hasn’t XRP Hit New Highs Like Bitcoin and Ethereum Despite Ripple Becoming a Top Financial Institution](https://247wallst.com/investing/cryptocurrency/2026/08/05/why-hasnt-xrp-hit-new-highs-like-bitcoin-and-ethereum-despite-ripple-becoming-a-top-financial-institution/)
2. Tradingkey — [Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC leads...](https://www.tradingkey.com/analysis/cryptocurrencies/more/250879735-fxstr)

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Cite as: TrendWatcher, "Bitcoin Hits $116,868 as Ethereum, XRP Rally", https://www.trendwatcher.in/article/7026bfe4-7b05-47eb-af64-c93d971b34bc