XRP has rallied in recent days and looks set to continue moving higher into the weekend. Trading for THETA and IOTA is showing red and may face further losses over the same period.
With Bitcoin’s market capitalization back above $1 trillion, the cryptocurrency market has largely recovered from last week’s slump. Ethereum has continued its strong performance from earlier in the year, reaching a fresh all-time high above $2,700.
XRP has been bullish as well, jumping nearly 50% over the past week and pushing toward the $2 mark. Although THETA and IOTA posted significant gains earlier this week, both are currently bearish after losses in the past 24 hours.
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XRP Price Outlook
XRP is the most bullish of the three coins. The 4-hour XRP/USD chart shows a clear uptrend that could carry through the weekend. XRP is trading above $1.50 and could test $2 by the weekend. The token sits above its 100-period SMA and EMA after finding strong support around $1.31.
A break above the $1.74 resistance could open the way for a further push toward $2. XRP has not traded above $2 since 2018, but continued momentum could drive it past that level.
4-hour XRP/USD chart. Source: Coinalyze
However, failure to mount a sustained challenge of the next resistance could push XRP back toward $1.31. Regardless, the $0.90 support level remains solid, giving bulls a defendable floor if market sentiment turns bearish.
THETA Price Outlook
THETA has enjoyed a notably positive week despite the minor pullback in recent hours. Bears retain some control and if selling pressure continues, THETA could drop toward the $10 area within hours. Further losses would put the $7.90 support level in focus.
4-hour THETA/USD chart. Source: Coinalyze
Technical indicators for THETA are still bullish overall, which means the coin could turn things around this weekend. A breakout above $11.90 would give THETA room to move higher and target the $13.50 resistance level.
IOTA Price Outlook
Like THETA, IOTA recorded strong gains earlier in the week but has pulled back recently. The 4-hour IOTA/USD chart shows the token attempting to break out of consolidation and move toward the $2.30 resistance. IOTA trades above its 100-period SMA, and both RSI and MACD display bullish readings. With favorable market conditions, IOTA could reverse course and reach a new monthly high above $3.
4-hour IOTA/USD chart. Source: Coinalyze
If the current downtrend continues, IOTA could slide below the $1.90 support. Additional losses might push the token down to around $1.50.