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This week may set a historic high for alts: XRP, HYPE
The Crypto Assets market continues to grow strongly, with many Token prices approaching or exceeding their all-time highs (ATH), and several Tokens have set new historical highs in the past week. Ripple (XRP) and Hyperliquid (HYPE) have performed remarkably, becoming the alts with potential for new highs this week.
Ripple (XRP)
XRP recently reached a new high, hitting $3.66 for the first time in over six months. Although it has slightly retreated since then, the current trading price is only 3.2% lower than the ATH, indicating strong investor interest.
The Exponential Moving Average (EMA) is forming a golden cross pattern — a technical signal indicating an upward trend and acting as dynamic support for the price. This suggests that XRP is ready to continue its upward momentum. If it breaks through $3.66, XRP is expected to surpass $3.80 and set a new high.
However, due to some investors wanting to take profits from the recent rebound, profit-taking remains a potential risk. If selling pressure increases, XRP may fall below the support level of $3.38. A drop to $3 would invalidate the bullish outlook and could trigger a larger pullback.
(Source: Trading View)
Hyperliquid (HYPE)
As long as the support level of 42.3 USD can hold, the price of HYPE is expected to set a new ATH. Maintaining this price foundation may open the door for HYPE to continue its bullish momentum in the short term.
HYPE is currently priced at 44.42 USD, just a little over 10% away from breaking through last week's ATH of 49.86 USD. The Ichimoku indicator is forming below the candlestick, indicating that bullish momentum is strengthening. This technical pattern suggests that HYPE is likely to break the 50 USD mark soon.
However, if the HYPE fails to establish $42.3 as a solid support level, the bullish outlook will become invalid. A drop to the $40 range would signify a significant retracement, erasing most of the recent gains. This reversal could also undermine investor confidence and signal a potential shift in short-term market sentiment.
(Source: Trading View)