🏦 Crypto in 401(k)? BTC, ETH & XRP Surge on Trump’s Bold Retirement Plan
Bitcoin bulls target $120,000 after closing over $116,000 barrier.
Ethereum nears $4,000 barrier, where a break might boost gains.
If XRP breaks $3.40 daily barrier, it might climb to record highs.
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) prices rallied 2%, 6%, and 11% on Thursday and are reaching major resistance levels on Friday. After speculations on Thursday that US President Donald Trump would sign an executive order to allow crypto in 401(k) retirement savings, the top three cryptocurrencies rose.
Bitcoin approaches $120,000.
After finding support around its 50-day Exponential Moving Average (EMA) around $113,000 earlier this week, bitcoin closed above $116,000 barrier on Thursday. On Friday, it was roughly $116,700.
If $116,000 holds, BTC might surge above $120,000, its psychological milestone.
BTC might fall below its 50-day EMA at $113,414 if it fails to find support around $116,000 and closes below.
Ethereum bulls want $4,000+
Ethereum gained almost 16% from its 78.60% Fibonacci retracement level at $3,397 on Sunday to close above daily resistance at $3,730 on Thursday. On Friday, it was approaching its psychological threshold of $4,000.
If ETH breaks and closes over $4,000, it might climb to $4,488, its December 9, 2021 high.
ETH may prolong its drop to $3,730, its daily level, if it corrects.
XRP might reach record highs if it breaks $3.40 barrier.
On Sunday, XRP found support around the 50-day EMA at $2.84 and recovered about 11% on Monday. The daily level at $2.72 and the 50% Fibonacci level at $2.78 provide a significant support zone for this 50-day EMA. XRP reached $3.33 on Thursday after it recovered midweek. As of Friday, it is rallying toward $3.40, its primary resistance.
XRP might climb to record highs at $3.66 if it breaks $3.40 barrier.
If XRP fails to close above $3.40 resistance and corrects, it might continue to fall toward its 50-day EMA around $2.84.
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