The cryptocurrency market has a good 24 hours with the price of Cardano, XRP, Tron and Stellar. The crypto market has a market capitalization of $213,433,128,550 with a circulating supply of 17,734,941,811 BTC.
The XRP rally has continued over the past few days and is expected to continue into the weekend. THETA and IOTA are trading at a loss and may suffer further losses in the same time frame.
The crypto-currency market has largely recovered from last week’s collapse, with bitcoin’s market value once again reaching the $1 trillion mark. Ethereum continued its strong start to the year, reaching a new all-time high above $2,700.
The XRP is also bullish, up almost 50% last week and continuing its advance towards $2. Although THETA and IOTA have shown excellent growth this week, they are currently in a downtrend and have suffered losses in the past 24 hours.
2+ XRP expected this weekend pic.twitter.com/3ia4MvyS5o
– Mr. Yoyo ®️™ (@GemHuntersYoyo) April 29, 2021
XRP price forecast
XRP is the most bullish of the three crypto-currencies. The four-hour chart of XRP/USD shows that the cryptocurrency is in a hot phase, and it could continue its run this weekend. It is currently trading above $1.50 and could reach $2 by the weekend. XRP is trading above its 100-day SMA and EMA after strong support at $1.31.
A breakout of resistance at $1.74 could lead to a further breakout towards the $2 level. XRP hasn’t traded above $2 since 2018, but it could exceed that mark if the current trend continues.
4 hour chart of the XRP/USD. Source: Coincide
However, if the XRP fails to break through the next resistance point, it could drop to the $1.31 level. Nevertheless, the $0.90 support level is solid and can easily be defended by the bulls in case of a bearish reversal in the market.
Price forecast for THETA
The week for THETA is going well despite a slight drop in the last few hours. The bears are in charge and if the trend continues, THETA could drop to $10 in the next few hours. Further losses could draw attention to the $7.90 support level.
Chart 4 hours THETA/USD/Source: Coincide
However, THETA’s technical indicators are still positive, meaning the cryptocurrency could turn around again this weekend. A break above $11.90 would create a platform for THETA to strengthen and target resistance at $13.50.
Like THETA, IOTA had a positive week despite recent losses. The 4-hour chart of IOTA/USD shows that the crypto-currency is trying to break out of stasis and rush towards the $2.30 resistance point. It is trading above the 100-day SMA and the RSI and MACD are showing upward signals. IOTA could reverse the trend and make a new monthly high above $3 with the help of the overall crypto-currency market.
IOTA/USD 4 hour chart. Source: Coincide
However, if the current trend continues, IOTA could fall below the $1.9 support level. Further losses could push the cryptocurrency back to the $1.50 area.
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