3 Major Crypto Assets Price Predictions: BTC and XRP Near Historical Highs, ETH Long Positions Targeting $4000 Threshold

Bitcoin (BTC) and Ripple (XRP) are approaching their respective historical highs during the Asian afternoon session today (23), while Ethereum (ETH) continues to steadily rise, nearing the critical level of $4,000. Supported by a strong technical structure and growing investor interest, these three largest market capitalization Crypto Assets are exhibiting new bullish momentum.

Bitcoin may reach a historic high of 120,000 USD

After reaching a historic high of $123,218 on July 14, the price of Bitcoin has been consolidating between $116,000 and $120,000. As of Wednesday when this article was written, its trading price is close to the upper limit of the consolidation range at $120,000.

If BTC's daily closing price exceeds the upper limit of the consolidation range at 120,000 USD, it may continue its rise and set a new historical high of 123,218 USD.

The Relative Strength Index (RSI) on the daily chart is at 65, still below the overbought level of 70, indicating bullish momentum. The Moving Average Convergence Divergence (MACD) indicators are crossing each other, suggesting indecision among traders. To maintain the bullish momentum, the MACD must cross and issue a bullish signal.

However, if BTC breaks below the lower consolidation boundary of $116,000 daily, it may continue its downtrend and re-test the 50-day Exponential Moving Average (EMA) of $110,989.

(Source: Trading View)

Ethereum is gaining support near its key levels

Ethereum price rose 26.40% last week, closing above the daily resistance level of $3,730 on Sunday. At the beginning of this week, ETH price stabilized above the daily resistance level of $3,730. As of Wednesday when this article was written, ETH price was hovering around $3,736.

If the level of $3,730 continues to act as support, ETH may extend its bullish trend towards the next key psychological level of $4,000.

The RSI on the daily chart is at 85, above its overbought level of 70, indicating strong bullish momentum. The MACD indicator showed a bullish crossover in early July and is still maintaining this trend. The green histogram is rising above the neutral zero line, indicating that bullish momentum is strengthening.

On the other hand, if ETH faces a pullback and closes below the daily support level of $3,730, it may continue to decline, finding support near the key level of $3,500.

(Source: Trading View)

XRP is close to its all-time high

XRP price rose over 20% last week, hitting a historical high of $3.66, with a slight pullback on Friday. On Saturday, XRP retested and found support near the key level of $3.40, recovering 4.15% over the next three days. As of Wednesday when this article was written, its price hovered around $3.50.

If XRP continues its upward trend, its momentum may extend to the historical high of $3.66. If it successfully closes above this level, the momentum will continue to $4.13, which is the 141.40% Fibonacci extension level, extending from the January high of $3.40 to the April low of $1.61.

The RSI indicator on the daily chart shows 82, indicating that the market is in an extremely overbought condition, and traders should remain alert. However, like Ethereum, the MACD indicator also suggests that XRP will further rise in the future.

On the contrary, if XRP faces a pullback, it may continue the downtrend, finding support around $3.40 daily.

(Source: Trading View)