- Technical Outlook on Altcoins: Ethereum and XRP appear to be on the verge of a breakout.

Ethereum is trading slightly above the previous day's high at $2025, supported by strong technical expectations as shown in the daily chart.

The MACD indicator supports Ethereum's gains today, as it remains above the signal line on the same chart, while the green histogram bars are expanding, encouraging investors to increase their investments. The Money Flow Index (MFI) remains steady above the 44 level, heading toward the midline.

Any additional rise above the midline will confirm the bullish outlook and increase the likelihood of the price breaking through the 50-day exponential moving average (EMA), which appears to be capping the rise at $2538. The nearest breakout target is around $2174, which corresponds to the highest level recorded on February 5.

Daily chart of ETH/USDT pair

XRP price increased in tandem with Bitcoin and Ethereum, gaining more than 1% during the trading session, and is currently trading around $1.49 as of this report on Wednesday. The prevailing trend appears to be bullish, as confirmed by the MACD indicator which remains above the signal line on the daily chart.

Daily chart of XRP/USDT pair

Buyers seem ready to break the $1.50 barrier in the short term, supported by a significant increase in money flow into XRP, as evidenced by the rising Money Flow Index to 53. The 50-day exponential moving average at $1.71 is a key target, along with the 100-day exponential moving average at $1.92.

However, both moving averages are trending upward, indicating that the trend may remain bearish unless bulls push to break the barriers at $1.71 and $1.92.