XRP News Today: Crypto Market Volatility: XRP Awaits Breakout, Livepeer Drops 58%, Quant Targets $180

This week, the crypto market remained volatile, with Bitcoin hovering around the $107,000 level while most altcoins experienced significant declines. This article focuses on the price predictions for three prominent cryptocurrencies: Ripple (XRP), Livepeer (LPT), and Quant (QNT).

XRP, one of the most widely recognized cryptocurrencies, has been in a state of uncertainty as investors await further catalysts. The token is currently trading slightly below its 50-day moving average and is forming a symmetrical triangle pattern. This pattern emerged after XRP surged by triple digits in November of the previous year, indicating a bullish pennant pattern, a common continuation signal in technical analysis. Additionally, XRP's price is at a strong pivot reverse point on the Murrey Math Lines and has formed an inverse head and shoulders pattern. These technical indicators suggest a potential strong bullish breakout in the coming days, with the next key level to watch being the psychological point at $2.5. If XRP moves above this price, it could potentially reach its year-to-date high of $3.38. However, if the price drops below the lower side of the triangle at $1.80, it could lead to further downside pressure.

Livepeer, a leading cryptocurrency project at the intersection of video and artificial intelligence, utilizes a decentralized computing model that allows users to share resources to streamline the streaming process. Last month, Livepeer's price surged after being listed on a major crypto exchange. However, these gains were short-lived, as the token crashed from its high of $14.23 to its current price of $5.90. The daily chart shows that Livepeer's price has remained below its 50-day moving average and has dropped below the important support level at $8.43, its lowest level since August 5 of last year. The most likely scenario is that Livepeer's price will continue to fall as sellers target the next key support level at $3.30, the lowest point this year. A move above the key resistance level at $8.43 would invalidate the bearish forecast for Livepeer.

Quant, a top utility crypto project in the financial services industry, is known for its main product, Overledger. Overledger ensures interoperability between different blockchains and traditional systems, facilitating communication, data transfer, and asset exchanges across multiple distributed ledger technologies. Quant's price reached $105.20 on Saturday and is slightly below the important resistance level at $120. It has formed a cup-and-handle pattern, a popular continuation signal in technical analysis. Quant is currently forming the handle section and has already moved above its 50-day moving average. The most likely scenario is that it will bounce back to the upper side of the cup at $120. This cup has a depth of about 70%, and measuring the same distance from the upper side brings the eventual Quant price target to $180.