Top 3 cryptocurrency price prediction: BTC approaches historical peak, ETH accelerates, XRP breakdowns all limits

The price of Bitcoin (BTC) continues to break through, currently surpassing the $120,000 mark in trading on Friday, nearing the historical peak of $123,218. Ethereum (ETH) is also quite impressive, having risen over 20% in just one week, with the next target being the $4,000 mark. Meanwhile, Ripple (XRP) draws all eyes as it sets a new record at $3.66 on Friday, reflecting strong buying pressure and an optimistic sentiment spreading across the entire crypto market.

Bitcoin Approaches Historical Peak

After reaching a new all-time high of $123,218 on Monday, the price of Bitcoin quickly corrected, falling to a low of $115,736 during Tuesday's trading session. However, the leading cryptocurrency rapidly recovered over the next two days, and by the time of writing on Friday, BTC had regained the $120,000 mark – a positive signal for the upward trend.

If Bitcoin can maintain a daily closing level above $120,000, the current recovery is likely to continue, opening up opportunities to reclaim the previous peak and even establish higher levels in the near future.

Daily BTC/USDT chart | Source: TradingViewThe relative strength index (RSI) is hovering around 71 – a zone indicating strong buying pressure and clear upward momentum since the mid-week correction. Meanwhile, the MACD indicator has recorded a bullish crossover signal since the end of June and continues to maintain this trend. The steady increase of green histogram bars above the 0 line further reinforces the bullish momentum.

However, in the scenario where the price turns around for a correction, the important support area in the near term is at the bottom level of $115.736 – where BTC had previously bounced back strongly in the previous session.

Ethereum bulls dominate, aiming for the $4,000 mark

The price of Ethereum (ETH) officially closed above the psychological mark of $3,000 on Tuesday, opening up an impressive upward trend of 10.8% during Thursday's trading session. As of Friday, ETH continues to maintain a positive trend and is approaching the important resistance area around the $3,730 mark on the daily timeframe.

If this cryptocurrency can close above the upper resistance zone, the crypto market is likely to witness a new acceleration, with the next target being the psychological level of $4,000.

ETH/USDT daily chart | Source: TradingViewThe technical indicators are in agreement supporting the bullish trend. Specifically, the RSI indicator on the daily frame is currently at 85, far exceeding the overbought area of 70 – a sign that buying pressure is overwhelming. Additionally, the MACD indicator has created a bullish crossover since the beginning of July and is still maintaining the trend. The green histogram bars continue to expand above the 0 line, further reinforcing confidence in the bullish outlook for ETH.

However, in the scenario where the market experiences a correction, the $3,000 level will serve as an important support threshold to monitor, both from a technical perspective and investor sentiment.

XRP reaches a new historical peak at $3.66

The price of XRP has surged strongly, breaking through the important psychological level of $3 on Wednesday and continuing to rise an additional 14.60% in the next trading session. By Friday morning, the upward momentum showed no signs of slowing down as XRP set a new historical high at $3.66.

If this trend is maintained, XRP could extend its recovery to the $4.13 area - coinciding with the 141.40% Fibonacci extension level, measured from the January peak ($3,40) to the April bottom ($1,61).

XRP/USDT daily chart | Source: TradingViewHowever, the RSI indicator on the daily frame has now surged to 89 – indicating that the market is in a state of serious overbought, increasing the risk of a short-term correction. Nevertheless, similar to the movement of Ethereum, the MACD indicator still maintains a positive signal, indicating that buying pressure is still prevailing.

In the adjustment scenario, the $3.40 price level will serve as an important support to watch, as this is a key threshold on the daily timeframe.

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