Price analysis: XRP Bullish, THETA and IOTA declining

XRP has recovered in the past few days and is expected to continue over the weekend as well. THETA and IOTA are in the red and could suffer further losses in the same period

The cryptocurrency market has largely rebounded from last week’s crash. Bitcoin’s market capitalization hit $ 1 trillion again. Ethereum continued its stellar start to the year after hitting another all-time high above $ 2,700.

XRP is bullish too, rising nearly 50% over the past week to continue its march towards $ 2. While THETA and IOTA posted excellent gains this week, they are currently bearish after having suffered losses in the past 24 hours.

$ XRP $ 2 + await you this weekend🚀

– Mr. Yoyo ®️ ™ (@GemHuntersYoyo) April 29, 2021

XRP price outlook

XRP is the most bullish of the three cryptocurrencies. The 4-hour XRP / USD chart shows a cryptocurrency is in a hot phase and could keep going this weekend. It is currently trading above $ 1.50 and could hit $ 2 by the weekend. XRP is trading above its 100-day SMA and EMA after seeing strong support at $ 1.31.

A rally above the $ 1.74 resistance could trigger another breakout towards the $ 2 level. XRP hasn’t traded above $ 2 since 2018, but it could cross that mark if the current trend continues.

XRP / USD 4 hour chart. Source: Coinalyze

However, if no serious challenge is met after the next point of resistance, the XRP could plunge to $ 1.31. Regardless, the $ 0.90 support level is strong and bulls can easily defend it should the market turn bearish.

THETA price outlook

THETA has a positive net week despite the slight decrease in the last few hours. The bears are in control and if the trend continues, THETA could fall to the $ 10 region in the coming hours. Further losses could bring the USD 7.90 support level into focus.

THETA / USD 4-Hour Chart / Source: Coinalyze

However, THETA’s technical indicators are still positive, which means that the cryptocurrency can still do something this weekend. A breakout below USD 11.90 provides THETA with the platform to move higher and aim for the resistance point of USD 13.50.

IOTA price outlook

Similar to THETA, IOTA had a positive net week despite the recent losses. The IOTA / USD 4 hour chart shows how the cryptocurrency is struggling to break out of its stagnation and move towards the resistance point of $ 2.30. It is trading above its 100-day SMA while both its RSI and MACD are bullish levels. IOTA could reverse the trend and, with the help of the general cryptocurrency market, climb to a new monthly high above $ 3.

IOTA / USD 4 hour chart. Source: Coinalyze

However, if the current trend continues, IOTA could fall below the USD 1.9 support level. Further losses could cause the cryptocurrency to drop back to $ 1.50.

Comments are closed.