Bitcoin, XRP, Litecoin Technical Analysis: Momentum Builds Across Major Cryptos

Bitcoin (BTC) demonstrated resilience following a brief pullback last week, declining to $90,791 on Tuesday. By Friday, it had recovered to hover around $97,000. This rebound highlights renewed market confidence and sustained bullish momentum. On-chain data points to recovering institutional demand, with holders actively buying the dip.

Bitcoin’s strength is supported by positive developments, such as Morocco’s legalization of cryptocurrencies and increased adoption by major institutions like MicroStrategy and Marathon Digital. These factors highlight growing global acceptance and institutional confidence in Bitcoin’s long-term potential. Despite recent gains, long-term holders remain cautious, with some opting to sell older coins. This behaviour suggests the market may require a re-accumulation phase before achieving sustained price growth. The weekly candle closed positively, highlighting bullish price action on the technical charts.

On the other hand, Ripple (XRP) continues its impressive rally, crossing the $2 mark for the second time since January 2018. On-chain data highlights substantial whale and institutional activity, with a $250 million inflow into exchanges over the past three days. The chart below illustrates the surge in XRP inflows, highlighting the increasing demand. The bullish sentiment is driven by regulatory optimism surrounding XRP. This includes speculation about Trump potentially dismantling the SEC’s crackdown on XRP and a push for XRP-focused ETFs.

Similarly, Litecoin (LTC) is exhibiting strong upward momentum, surging over 20% in the past day to reach around $123.79. Its market cap has risen above $9 billion, demonstrating strong market performance. The 24-hour trading volume of $2.58 billion reflects heightened market interest and activity.

Bitcoin (BTC) Technical Analysis

Bitcoin Daily Chart – Consolidation at Record Levels

The daily chart for Bitcoin shows a price surge following the formation of a strong bullish pattern, indicating sustained upward momentum. Therefore, the recent price correction might be short-lived and could result in a continuation of the upward move. The 50-day SMA has crossed above the 200-day SMA, precisely at the breakout level from the black trend line, signalling that the trend remains strongly bullish. Consequently, the chances of a breakout above $100,000 are increasing. A break above the $100,000 target could initiate the next significant move in the Bitcoin market. The price range of $80,000 to $90,000 remains the support zone for this correction.

Bitcoin 4-hour Chart – Bullish Price Action

The 4-hour chart for Bitcoin shows the formation of an inverted head-and-shoulders pattern, signalling a potential move toward the $100,000 target. The price trades within the triangle formation with the initial support of $92,000 to $93,000. Additionally, the RSI fluctuates above the midline, indicating that Bitcoin is gearing up for another upward move. To confirm this upward momentum, a breakout above the $100,000 level is required.

Ripple (XRP) Technical Analysis

XRP Daily Chart – Surge Mode after Breakout

The daily chart for XRP shows a significant price surge after breaking through the $0.60 resistance level. This rally has propelled the price above $2.40, with strong upward momentum. Since XRP has broken out after a long period of consolidation, the rally is likely to be sustained, potentially leading to long-term price elevation. The first target for this move is around $3.50, which is the January 2018 high.

XRP 4-hour Chart – Surge Mode

The surge in XRP is also evident on the 4-hour chart, as the price forms bullish patterns each time before the next upward move. The price consolidates before reaching new highs, indicating that the bullish momentum is sustainable. A monthly close above $3.50 would likely trigger a long-term parabolic move, continuing the upward trend.

Litecoin (LTC) Technical Analysis

Litecoin Daily Chart – Cup Pattern

The daily chart for Litecoin shows that the price has broken out of a cup pattern, initiating a strong upward move. The price consolidation within the cup pattern formed a bullish setup. Moreover, the breakout from this pattern at $109 indicates that the price is approaching the March 2022 high of $134. A break above the March 2022 high could trigger the next move toward $400. Additionally, the 50-day SMA crossing above the 200-day SMA further signals that the upward momentum will likely continue. However, the short-term price action indicates that the price may be lower before the next move. The support remains at the $109 level.

Litecoin 4-hour Chart – Ascending Channel

The 4-hour chart for Litecoin shows that the price has been trading within an ascending channel. The resistance of this ascending channel lies at $109, which aligns with the cup pattern breakout observed on the daily chart. A break above this ascending channel occurred due to the breakout from the cup pattern, leading to a short-term price extension. A price correction toward the $109 zone will likely support Litecoin’s move toward the next target of $134.