Predictions for the top 3 cryptocurrencies: BTC and XRP hold steady, ETH approaches historical peak.

Bitcoin (BTC) and Ripple (XRP) are maintaining a stable state just below key resistance levels; a breakout past this threshold could trigger a new bullish wave. Meanwhile, the Ethereum (ETH) bulls are dominating the market, pushing the price above the 4,500 USD threshold and approaching the target of conquering the historical peak of 4,868 USD.

Bitcoin could break out if it closes above the psychological level of 120,000 USD

On Monday, Bitcoin (BTC) reached the important psychological resistance level of 120,000 USD before pulling back slightly. The next day, the world's largest cryptocurrency continued to attempt to break through this barrier but has yet to succeed. As of Wednesday noon, BTC was oscillating around 119,500 USD, indicating that the market is in a fierce tug-of-war.

If it can close the session above the 120,000 USD mark, Bitcoin is likely to extend its upward momentum towards testing the record high of 123,218 USD. Breaking through this level will open up a "price discovery zone," with the next target set at the psychological milestone of 125,000 USD.

BTC/USDT daily chart | Source: TradingViewTechnical signals are currently leaning towards the bulls: The Relative Strength Index (RSI) on the daily timeframe reached 59, surpassing the neutral threshold of 50, reflecting that upward momentum remains dominant. Additionally, the MACD indicator recorded a bullish cross (bullish cross) on Monday, signaling a buy and reinforcing bullish expectations.

On the contrary, if BTC continues to fail below the 120,000 USD level and corrects, the nearest support zone around 116,000 USD on the daily chart will act as a "support point" for the price.

Ethereum bulls aim for historical peak of 4,868 USD

Ethereum made an impressive breakout by surpassing the $4,000 mark on Saturday, then continued to soar, closing above the peak of $4,488 on December 9, 2021, on Tuesday. By Wednesday afternoon, this cryptocurrency was still maintaining its upward momentum, trading around $4,640.

If the bullish momentum continues, ETH is likely to challenge the record of 4,868 USD set on November 10, 2021.

ETH/USDT Daily Chart | Source: TradingViewOn the daily timeframe, the RSI index reached 78 – far exceeding the overbought zone and still trending up, reflecting strong buying pressure. At the same time, the MACD indicator has created a "bullish crossover" since Saturday, with the green histogram bars increasingly widening, reinforcing confidence in the bullish scenario.

Nevertheless, in the event of a correction, the 4,488 USD mark will be the most notable support area.

XRP could reach a new peak if it breaks the resistance at 3.40 USD

The price of XRP was blocked at the resistance level of 3.40 USD on the daily chart on Friday, subsequently losing 5% of its value over the course of 5 days. However, the downward trend paused as XRP surged by 4.41% on Tuesday, closing at 3.26 USD. As of Wednesday noon, the price continued to fluctuate around the 3.22 USD mark.

If it breaks and closes above 3.40 USD, XRP could trigger a new rally, heading straight for the historical peak of 3.66 USD.

Daily XRP/USDT Chart | Source: TradingViewOn the daily chart, the RSI index reached 56 — exceeding the neutral threshold of 50 — indicating that upward momentum is gradually increasing. At the same time, the MACD lines are narrowing the gap, reflecting the hesitation of investors. To reinforce the upward trend, the MACD needs to form a bullish crossover similar to what ETH and BTC have recently shown.

On the contrary, if it continues to fail below 3.40 USD and faces selling pressure, XRP could retreat to the Fibonacci retracement level of 61.80% around 2.99 USD.