The past week has seen significant movements in the cryptocurrency market, with Bitcoin (BTC), Ethereum (ETH), and XRP (XRP) reacting positively to market prerequisites. Here’s a breakdown of each cryptocurrency’s performance and what to expect in the coming days.

Bitcoin Continues to Rise

Bitcoin’s price has surged by 8.89% over the past week, forming a broadening wedge pattern that suggests a potential breakout. If this pattern holds, Bitcoin could rally by 27.6%, reaching a significant milestone of $91,410. This would validate long-term bullish predictions for the cryptocurrency.

However, a more conservative target lies on the upper trend line of $71,600, which is a more realistic short-term goal. Bitcoin recently bounced off the lower trend line, and flipping $60,000 into a solid support level is crucial to sustaining this uptrend.

On the other hand, if Bitcoin fails to establish a support level at $58,986, the price could tumble further, bringing $55,883 into play as a critical support level. This scenario would invalidate the bullish outlook and signal a potential downturn in Bitcoin’s recent price action.

Ethereum Takes a Bullish Turn

Ethereum is currently trading at $2,418, bouncing off the support at $2,344. This key support level, which was previously tested in August, resulted in the altcoin king jumping to $2,681. A similar move is expected from ETH in the coming days.

The next barrier for the cryptocurrency lies at $2,546, and breaching it will enable a push to $2,681. Breaking this resistance level is now more likely given the current momentum, but it would at least prevent ETH from testing the downtrend line as support again.

However, if Ethereum’s price fails to breach $2,546, a drop to $2,344 is likely. This would bring ETH back into a short-term consolidation and invalidate the bullish thesis.

XRP Leads the Pack

Among the big three, XRP’s price managed to stand out as the top performer, rising by 12% in the past week. This brought the altcoin back above the 38.2% Fibonacci Retracement line, marked at $0.55.

The Ripple native token is now closer to breaching the resistance at $0.60, which coincides with the 50% Fib line. Flipping it into support would mark a three-week high for XRP’s price, enabling further upward momentum.

However, a failed breach of this resistance would dissipate the bullish momentum formed in the last few days. Rising selling pressure could further exacerbate the situation, bringing XRP’s price to $0.55 and invalidating the bullish outlook.

Overall, the cryptocurrency market is showing signs of promise, with Bitcoin, Ethereum, and XRP all making significant moves. However, it’s essential to keep a close eye on the market and adjust expectations accordingly, as the cryptocurrency market is known for its volatility.