Crypto News: BTC and XRP Weekly Charts Seem Bullish but ETH Could Drop Another 21%

XRP retested its all-time highs recently but rejected a move above this important threshold. Instead of shedding most of its post-election gains, the market has been consolidating and a bull flag has formed as a result.

This pattern indicates that market participants are waiting for the next catalyst before deciding where the price will be heading. However, flag patterns tend to resolve in the direction of the previous trend, which is an uptrend in this case.

If a break above $3.4 occurs, XRP’s outlook would improve dramatically and it could deliver sizable gains in just a few months as the rally would accelerate.

How high can XRP go? Hard to tell but the flag’s pole tends to be used as a measure. In that case, a long-term target XRP could be set at… $19 per coin. Too much? Too high? Keep in mind that XRP once surged from $0.12 to $3.4. So, not an impossible run.

ETH Seems Poised to Retest a Key Support

After consolidating for quite a few years, Ethereum (ETH) has finally broken its lower trend line, meaning that market participants share a bearish outlook for the token in the long term.