SKN | XRP Leads Crypto Surge as Bitcoin Hits Six-Week High Near $95,000

Key Points

• Bitcoin climbed above $94,000, reaching its highest level since mid-November and signaling renewed momentum.

• XRP led the rally with a 9% breakout on strong volume, outperforming major cryptocurrencies.

• Crypto-related stocks posted double-digit gains, but analysts warn bitcoin still faces key technical and regulatory risks.

The crypto market opened 2026 with a decisive risk-on tone, as bitcoin climbed to its highest level in six weeks and XRP outperformed the field with a sharp breakout. The move marked a notable shift from the defensive trading patterns that dominated late 2025, though analysts caution that the rally still faces important technical and macro tests ahead.

Bitcoin regains momentum into the new year

Bitcoin Bitcoin rose more than 3% on Monday, trading as high as $94,400 during U.S. hours before settling just below the psychologically important $95,000 level. The advance represents bitcoin’s strongest daily gain since November and its highest price since mid-month, signaling renewed participation as traders return from the holiday period.

The move comes after bitcoin spent much of December locked in a narrow consolidation range, weighed down by thin liquidity, year-end tax positioning and persistent selling during U.S. market hours. Early 2026 price action, however, suggests that some of those pressures may be easing as fresh capital re-enters risk assets.

Market participants are now watching whether bitcoin can hold above the low-$90,000s, a zone that has repeatedly capped upside attempts over the past two months. A sustained move through $95,000 would likely open the door to a retest of the six-figure level, while failure could see prices drift back toward support near $88,000–$90,000.

XRP breakout leads the rally

While bitcoin set the tone, XRP XRP was the clear leader on the day. The token jumped roughly 9%, climbing to its highest level since mid-November after breaking through a key resistance zone on strong volume. The breakout extended overnight gains and accelerated during U.S. trading hours, drawing renewed attention to XRP after months of range-bound performance.

Traders pointed to a combination of technical follow-through and improving sentiment around regulated XRP exposure as catalysts for the move. XRP’s strength stood out even as other large-cap tokens posted more modest gains, reinforcing the view that positioning remains selective rather than indiscriminately bullish across the market.

Crypto equities surge alongside digital assets

The rebound was mirrored across crypto-related equities, many of which had suffered heavy drawdowns late last year. Coinbase shares jumped nearly 9% after receiving a buy upgrade from Goldman Sachs, while Strategy and Robinhood gained 5% and 6%, respectively.

Smaller names posted even sharper moves. Bakkt surged about 30%, Figure rose 20%, and bitcoin miner-turned-AI infrastructure player Hut 8 advanced roughly 15%, nearing $60 per share. The strength highlights how leveraged crypto equities tend to amplify underlying moves in digital assets, particularly at turning points in sentiment.

A constructive start, but risks remain

Analysts welcomed the early-year strength but urged caution against extrapolating too quickly. Lukman Otunuga, senior market analyst at FXTM, said bitcoin may be setting the stage for a broader recovery in 2026 after a difficult 2025, helped by falling interest rates and tighter supply as long-term holders keep coins off exchanges.

Still, he warned that headwinds remain. New U.S. tax reporting requirements could weigh on retail participation, while regulatory scrutiny of crypto-exposed firms continues to pose headline risk. From a technical perspective, Otunuga noted that only a sustained break above $100,000 would revive bullish ambitions toward record highs, while failure to build on current gains could leave bitcoin vulnerable to deeper pullbacks toward $77,500 or even $54,000.

For now, the market’s strong opening to 2026 reflects improving risk appetite and a tentative shift in behavior. Whether this rally develops into a durable trend will depend on follow-through above key resistance levels — and on whether renewed optimism can withstand the next test of macro and regulatory reality.