As to what makes higher aspect ratios feasible, no magic here:
- Aerospace materials have improved over time, in quality and strength.
Carbon gets a lot of hype, part deserved and part not. It's just one of the materials.
Aluminum alloys range in yield strength from 55 MPa for the soft mush laptops and phones are made of to 650 MPa for structural aerospace parts. These are both common alloys currently in use. Steel has a further wider range.
Composites range in strength even more widely, from <100 to 3500 MPa, depending on the fiber, direction, weave, resin, filler, fiber ratio, and the curing method.
It's never just "aluminum" or "titanium" or "composite". Each is a very broad category. Overall, materials, including alloys, have been improving steadily; composites are most prominent at the latest step. Well before carbon, fiber-metal laminates have been cutting weight from the skin.
- Better design precision.
Today's airplanes are engineered with CAD and FEA - finite element analysis. This allows for modeling the wing's structure in its entirety, down to small parts, and learning the stresses in each specific piece. Then, the pieces that are stressed less can be lightened, and the pieces that are likely points of failure can be reinforced.
The manufacturing methods have also improved, allowing for thinner layers, adhesive bonding, more precise milling and trimming. Overall, older airplanes had to carry a lot of metal that wasn't stressed as highly as it could have been, because it wasn't calculated accurately enough, or wasn't cost-effective to remove.
Today, it's common for airframes to come within a few percent of their calculated design load during destructive testing.
- Larger airports.
Wingspan isn't just a matter of structural considerations. Larger wingspans have been feasible for a long time. The issue is, the wider it is, the fewer airports can fit the airplane in their gates, and the higher their landing fees. The FAA divides aircraft into design groups by wingspan, and airport design has to fit increasing requirements for each group.
The Boeing 747 and then the Airbus A380 have prompted airports to adapt to larger aircraft. Then, even as they are being phased out, the runways, the taxiways and the gates remain as designed for these "jumbo"/"superjumbo" categories.
This opens up room for slightly smaller aircraft like the A350 or the B777X to make use of these wider facilities. Since these planes are lighter than the 747 or the A380, they don't need as much chord to get the lift they need.
- This is just the technical aspect. Keep in mind that higher aspect ratios were always possible, like used in gliders, but would always contribute more weight to the wing. There's a lot of reasons why higher aspect ratios were desired: increasing fuel prices, newer engines, more airframe stretching anticipated.