The cryptocurrency market has shown signs of a bullish reversal this week, with Bitcoin, Ethereum, and XRP all breaking above key resistance levels. Analysts are watching closely as technical indicators and price patterns suggest renewed investor confidence. Notably, the market has seen over $313 million in liquidations in the past 24 hours, with Ethereum leading in both long and short position liquidations at $27.29 million and $91.19 million, respectively [1].

Bitcoin, trading near $118,000, has completed a cup and handle pattern after breaking above $69,000 in late July. Technical analyst Katie Stockton has noted that the price could potentially reach $134,500 if the pattern holds, with more optimistic forecasts suggesting $150,000 or even $320,000. The recent breakout has been supported by strong volume and a retest of former resistance levels without significant pullbacks [2].

Ethereum has surged approximately 16% from last week’s support level, currently trading around $3,983. The altcoin has broken out of a multi-year falling wedge pattern, with the RSI indicating reversal signs. While the movement remains speculative, some experts suggest Ethereum could climb toward $6,000–$10,000 if the trend is validated by increased volume [3].

XRP has also performed strongly, gaining over 13% this week and breaking the $3.00 mark. The asset benefits from a favorable market environment and potential regulatory clarity. The Bear Bull Power indicator shows a sharp rise in recent trading sessions, suggesting growing bullish sentiment. If the trend continues, XRP could test resistance at $3.50, with key support levels standing at $3.25 and $3.00 [4].

While Bitcoin’s bullish setup appears more developed, with strong MACD and volume confirmation, Ethereum’s breakout is still in early stages. Success for Ethereum will depend on its ability to break above $3,700 with conviction, while Bitcoin’s pattern suggests a clearer path higher [5].

Analysts remain cautious about potential corrections, particularly as Bitcoin consolidates after its recent rally. However, the broader trend points to growing confidence in the crypto market, with Ethereum showing early reversal signals and XRP exhibiting strong momentum amid favorable technical conditions [6].

Sources: [1] Cryptotimes, [https://www.cryptotimes.io/2025/08/08/bitcoin-ethereum-xrp-price-prediction-bullish-reversal-next-week/](https://www.cryptotimes.io/2025/08/08/bitcoin-ethereum-xrp-price-prediction-bullish-reversal-next-week/)

[2] InvestingHaven, [https://investinghaven.com/crypto-blockchain/coins/bitcoin/bitcoin-vs-ethereum-is-bitcoins-cup-and-handle-outpacing-ethereums-falling-wedge-breakout/](https://investinghaven.com/crypto-blockchain/coins/bitcoin/bitcoin-vs-ethereum-is-bitcoins-cup-and-handle-outpacing-ethereums-falling-wedge-breakout/) [3] Mitrade, [https://www.mitrade.com/insights/news/live-news/article-3-1024546-20250808](https://www.mitrade.com/insights/news/live-news/article-3-1024546-20250808) [4] Financemagnates, [https://www.financemagnates.com/trending/why-crypto-is-going-up-bitcoin-ethereum-xrp-and-dogecoin-prices-today-lead-broad-rally/](https://www.financemagnates.com/trending/why-crypto-is-going-up-bitcoin-ethereum-xrp-and-dogecoin-prices-today-lead-broad-rally/) [5] FXStreet, [https://www.fxstreet.com/cryptocurrencies/news/xrp-price-bids-for-new-record-high-as-ripple-sec-signal-lawsuit-resolution-202508081515](https://www.fxstreet.com/cryptocurrencies/news/xrp-price-bids-for-new-record-high-as-ripple-sec-signal-lawsuit-resolution-202508081515) [6] InvestX, [https://investx.fr/en/crypto-news/is-bitcoins-bull-run-already-under-threat/](https://investx.fr/en/crypto-news/is-bitcoins-bull-run-already-under-threat/)