Top 3 cryptocurrency price predictions: BTC approaches historical peak, ETH and XRP ready to explode

The price of Bitcoin (BTC) is currently hovering around $108,500 on Monday morning, just under 3% away from the all-time high, indicating that market sentiment is gradually heating up. Meanwhile, Ethereum (ETH) has closed above a critical resistance level, opening up prospects for a continued strong rise. Notably, Ripple (XRP) is also approaching a decisive price zone; if it breaks through successfully, this coin could trigger a promising short-term growth wave.

Bitcoin is nearing its historical peak

Bitcoin (BTC) has recorded an impressive rise of 7.32% in the past week, closing above the important threshold of $108,000. As of Monday morning, this coin is trading around the zone of $108,500, just 3.2% away from the historical peak on May 22 at $111,980.

If the current upward momentum continues to be maintained, BTC is fully capable of reclaiming its previous peak and even setting a new all-time high around the $120,000 mark. A closing session above the $111,980 threshold will be a confirmation signal for the extended recovery.

BTC/USDT Daily Chart | Source: TradingViewTechnical indicators are also supporting the bullish trend. The Relative Strength Index (RSI) on the daily timeframe has risen to 59, surpassing the neutral threshold of 50, reflecting that bullish momentum is prevailing. Meanwhile, the MACD indicator has just recorded a bullish crossover on Thursday – a notable buy signal, reinforcing confidence in the market's upward trend.

However, in the event of a short term adjustment, BTC may turn around to test the strong support zone at the (EMA) 50-day moving average, currently located around the $104,158 mark.

Ethereum is ready to enter a new rise phase when it breaks through important resistance.

Ethereum (ETH) has risen above the (EMA) 50-day exponential moving average at the level of $2,429 last Tuesday, and quickly established a support zone around this level. Then, on Sunday, ETH continued to break through, piercing the important resistance level at $2,461. As of the time of writing on Monday, this coin is trading around $2,498.

If ETH remains strong above the support zone of $2,461, the bullish trend could be reinforced, opening up opportunities to move towards the next resistance zone on the daily chart at $2,724.

ETH/USDT daily chart | Source: TradingViewThe RSI indicator is currently at 52, above the neutral threshold of 50, indicating that upward momentum is improving. At the same time, the MACD is approaching a bullish crossover – if the MACD line crosses above the signal line, this will be a strong buy signal further reinforcing the positive outlook.

However, in a negative scenario, if ETH closes below the zone of $2,461, selling pressure may return, pulling the price down to the technical support level at the 50-day EMA, around $2,429.

XRP is at the threshold of a price rise

The price of Ripple (XRP) found a solid support around the $1.96 mark last week and rose to the sky by nearly 9%. As of Monday, this coin is approaching a key resistance zone at $2.23 – a level that could open up new growth potential if broken down.

In a positive scenario, if XRP breaks through and closes above this resistance zone, the upward trend may be reinforced, with the next target being the nearest peak set on May 23 at $2.47.

XRP/USDT daily chart | Source: TradingViewThe technical indicators are also leaning towards the possibility of a continuation of the upward trend. On the daily chart, the RSI is approaching the neutral level of 50, indicating that selling pressure is weakening. If the RSI can break above this level, the bullish momentum will become even more evident. Meanwhile, the MACD generated a bullish crossover on Friday, sending a buy signal and reinforcing the positive outlook.

However, in the event that the upward momentum weakens and fails to maintain buying pressure, XRP may reverse and test the key support zone at $1.96.

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