Why Are Bitcoin, Ethereum and XRP Prices Going Up Today?

The crypto market is waking up again, and the signs are finally pointing in one direction: upward. Bitcoin is holding above $91,000, Ethereum has reclaimed $3,000, and XRP has pushed to $2.20 after an 10% weekly jump. The total market cap has climbed back to $3.1 trillion, rising more than 3 percent in a single day. But what exactly is driving this sudden strength?

The answer lies in the same force that has shaped every major crypto rally in the past decade: the behavior of the US dollar.

A Slight Drop in the U.S. Dollar Sparks a Crypto Bounce

Historically, whenever the US dollar begins a downtrend, Bitcoin rallies first. Then the market chops for a while, and finally altcoins take over during the second leg of the dollar’s fall. That cycle seems to be reappearing now.

Over the past several months, investors have been waiting to see which direction the DXY, the dollar index, would break. A breakdown would mean fresh liquidity and a risk-on environment. A breakout would threaten the entire bull market. For months, the dollar has simply been moving sideways, creating a slow but steady grind upward for Bitcoin and a painful drift downward for many altcoins.

This week finally gave the market a clear signal. The British pound unexpectedly strengthened after the UK budget was released, and because the pound is one of the largest components of the DXY, the dollar dropped sharply. That move pushed global liquidity higher, and crypto responded instantly.

Bitcoin Leads the Rally as Liquidity Improves

Bitcoin has been climbing for several days, riding the dollar’s pullback. Bitcoin may pause between $90,000 and $92,000 before making another move. Yet the broader view remains bullish. If Bitcoin continues to track the drop in the DXY, a push toward the upper Bollinger Band near the $93,500 to $94,000 range becomes likely.

In other words, Bitcoin is doing exactly what it always does in the early stages of a liquidity-driven rally: move first and set the tone.

Ethereum Recovers as Risk Appetite Returns

Ethereum has reclaimed the $3,000 level after days of hesitation, rising more than 4% on the week. ETH tends to lag behind Bitcoin when the market is unsure but accelerates when liquidity improves. With the dollar weakening, traders are once again positioning ahead of the next phase of the market, where Ethereum historically gains more aggressively.

ETH is also benefiting from rising futures activity and improving network metrics, especially in staking demand and layer-2 transactions.

XRP Surges Nearly 10% This Week

XRP is one of today’s standout performers. After weeks of sideways action, the token has climbed back to $2.20 with strong volume.

Altcoins with large market caps tend to benefit quickly from liquidity inflows when the dollar weakens. While the broader XRP narrative continues to evolve with ETF speculation and policy developments, today’s price action is tied mainly to U.S. liquidity improving at the macro level.