Bitcoin, Ethereum, and XRP as Market Momentum Builds

As Christmas week begins, the crypto market shows early signs of recovery. Over the past 24 hours, global market capitalization rose by 0.85%, climbing above $3.01 trillion. 

Bitcoin price is hovering over $89,000, Ethereum is over $3,000, and XRP is almost close to $1.90, indicating that there is a resurgence of investor interest in the major cryptocurrency market.

Bitcoin Price Eyes $91K–$93K After Breaking Out of Falling Wedge

Bitcoin price traded near $89,094 on Monday as it broke out of a falling wedge formation, signaling a potential bullish trend. The asset has increased by 1.12 over the last 24 hours, and daily trading volume increased by 86, reaching 26.48 billion.

According to analyst Ali, Bitcoin is testing the mid-range around $89,000. Any successful breakout beyond this point may drive the price to the range of $91,000 to $93,500. Nevertheless, the inability to hold can push the asset to the level of $84,600.

ETH Price Eyes $3,200 as ETF Outflows Near $644 Million

Ethereum price surged to $3,032 after rising 2.32% in the past 24 hours. The recent rally came after a 6% recovery of a descending trendline support. Should Ethereum break above $3,100, analysts believe that there may be a potential push up to the $3,200 -$3,500 resistance zone.

The net outflow of Ethereum spot ETFs ranged between $643.9 million in the period between December 15 and 19, with all nine Ethereum ETFs registering no inflows. Bitcoin ETFs, on the other hand, recorded a net outflow of $497 million. 

Otherwise, XRP and Solana were strong, and XRP spot ETFs recorded a total of $82.04 million in inflows, and SOL ETFs recorded a total of $66.55 million.

Breaking out above $3,200 would be a confirmed breakout and would be a positive indicator of further bullishness. Ether, Bitcoin, and XRP are under the scrutiny of the investors, with the ETF flows shaping market sentiment this week.

XRP Price Eyes Breakout as Bulls Target $2.25 Zone

The price of XRP is nearing the top of its downward channel, indicating possible breakout conditions. The recent recovery wave has, however, lost strength, and the price moves are compressing around the $2 resistance. This indicates that it could be a corrective move instead of an impulsive one.

XRP price was trading at around $1.91, but is still struggling to find acceptance at major overhead levels. 

In case the bullish pressure spreads, XRP may soon climb to the $2.0- $2.25 zone in the short term. A breakout at or above $2 is still essential to continuing upside.

What’s Next For Bitcoin, Ethereum, and XRP?

Bitcoin, Ethereum, and XRP are some of the critical technical levels this week. Further, ETF-based flows and breakout confirmations might influence the direction of the price in the near future. The next sessions will be watched by traders as BTC, ETH, and XRP are under $93K, $3,200, and $2.25, respectively.