Easter Spirit Uplifts ETH & XRP to 1-3%, While WIF Enjoys 11% Jump

Crypto Price Prediction: The Easter holiday triggered a minor uptick in the cryptocurrency market with the leading assets Bitcoin and Ethereum witnessing a jump of 1-3%. This week has been high volatility for a majority of major cryptocurrencies creating a narrow range as a sign of no clear dominance of buyers and sellers.

However, this consolidation is likely to shift to an uptrend continuation as the coming month, April, is scheduled for the most-awaited crypto event Bitcoin halving. This development coupled with a positive inflow into Spot BTC ETFs could accelerate the Bitcoin demand and broader market sentiment.

Also Read: Over $15B in Bitcoin and Ethereum Options Expiry, Big Crypto Rally or Crash?

1)Ethereum (ETH)

Ethereum stands as a decentralized platform that enables smart contracts and decentralized applications (DApps) to be built and operated without any downtime, fraud, control, or interference from a third party.

Amid the current market consolidation, the ETH price resonates in a narrow range from $3675 to $3470. While the lateral movement initially reflected investors’ uncertainty, the 4-hour chart revealed it as part of an inverted head and shoulder pattern.

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The ETH price currently trades at $3610 with an intraday gain of 2.9%. The market capitalization of Ethereum is currently valued at $433 billion, with a trading volume of $10.18 billion recorded over the past 24 hours.

Under the influence of chart patterns, the Ethereum price could breach the neckline resistance, providing buyers with a suitable springboard to chase the $4300 target.

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Also Read: Ethereum Price Prediction As End-of-Correction Pattern Emerged to Regain $4000

2) XRP

XRP, the digital asset from Ripple, is designed for fast and inexpensive cross-border payments, distinguishing itself with its low transaction fees and quick settlement times. 

Over the past two weeks, the XRP price has been wavering in uncertainty evidenced by the narrow range formation and rejection candles on either end. However, consolidation hovering above a 2-month-long trendline indicates the buyers maintain a steady uptrend.

Currently, XRP holds a market capitalization of $34.3 billion, ranking it as the sixth-largest cryptocurrency by market cap. If the market witnessed a renewed bullish sentiment, the XRP price could breach the overhead barrier of $0.667, and rechallenge the $0.744 high.

On a contrary note, a breakdown below the pattern’s lower trendline will trigger a significant correction in this altcoin.

Also Read: XRP Price Hinge on Builders and Devs, ODL Transactions Stay Neutral

3)Dogwifhat (WIF)

Dogwifhat (WIF) is a memecoin that emerged from the Solana blockchain, riding the wave of popularity that meme coins enjoy in the cryptocurrency ecosystem. This particular token is inspired by a viral internet meme featuring a Shiba Inu wearing a hat.

Defying the broader market correction, the WIF price showcased a nearly upright recovery from $2.11 to $4.8 registering 127.5% growth within two weeks. The market cap of this memecoin is currently at $4.78 Billion and emerging to the top 30 list of largest cryptocurrencies. The memecoin Dogwifhat (WIF) has recently seen its market capitalization surge to $4.78 billion, propelling it into the top 30 cryptocurrencies by market size.

The rising WIF price recently breached another key resistance of $4.5, offering suitable support for the buyers to reclaim the $5 psychological level, followed by $5.5.

Takeaway

The cryptocurrency market is likely to break its consolidation trend in the coming as we approach the eagerly anticipated Bitcoin halving event. Moreover, the performance of Spot BTC ETF so far accelerates the demand pressure for Bitcoin and simultaneously creates a bullish momentum for the broader market.

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