Crypto currencies intermediate-term bullish assessment

PARAGRAPH 1 --- What happened: XRP's daily Moving Average Convergence Divergence (MACD) indicator flipped bullish in mid-April, a signal that last triggered a 25% rally in January. This shift is driven by XRP-specific catalysts, notably Rakuten Wallet's integration, which exposes 44 million Japanese users to XRP. Meanwhile, Bitcoin (BTC) appears to be tracing out a bottom after a significant drop from its all-time high in October.

PARAGRAPH 2 --- Market impact: This bullish signal and XRP-specific catalysts have the potential to drive a rally in XRP, benefiting Ripple and its partners. The crypto market as a whole may also see a resurgence, as positive momentum in XRP could spill over to other cryptocurrencies. Conversely, if XRP fails to capitalize on this signal, it could lead to further selling pressure and negatively impact the broader crypto market.

PARAGRAPH 3 --- What to watch next: The next XRP rally's magnitude and sustainability will depend on its ability to break above the $1.70-$1.80 resistance level. Additionally, the upcoming Ethereum Merge, expected in Q2 2022, could drive Ethereum's price and influence the broader crypto market. Lastly, Bitcoin's ability to hold above the $40,000 level will be crucial in determining the crypto market's overall trajectory.