xrp crypto stock

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – May 21st, 2021

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – May 21st, 2021
Written by publisher team

for the next day

Litecoin will need to avoid the $204 pivot to trigger the first major resistance level at $240.

However, support from the broader market will be needed to exit Litecoin from Thursday’s high of $232.99.

Barring an extended crypto rally, the first major resistance level for any uptrend is likely to be capped.

In the event of an extended breakout, Litecoin could test the resistance at 38.2% FIB of $265. The second major resistance level is located at $270.

Failure to avoid the $204 pivot will trigger a 62% Fib from $174 and the first major support level at $174.

Barring another extended sell off, Litecoin should move away from levels below $170. The second major support level is at $138.

Looking at technical indicators

First Major Support Level: $174

Pivot level: $204

First major resistance level: $240

23.6% Fib Retracement Level: $322

38.2% Fib Retracement Level: $265

62% Fib Retracement Level: $174

Ripple XRP

XRP of Ripple is up 11.42% on Thursday. After partially reversing Wednesday’s 33.23% drop, XRP finished the day at $1.18153.

A mixed start to the day saw Ripple’s XRP drop to an intraday early morning low of $0.93300 before making any move.

After moving away from the first major support level at $0.8668, XRP of Ripple surged to an afternoon high at $1.26853.

After falling below the 38.2% FIB level at $1.2807 and the first major resistance at $1.4509, Ripple’s XRP fell once again to end the day below $1.20.

At the time of writing, XRP is up 1.44% to $1.19850. A bullish start to the day saw Ripple XRP rise from the early morning low of $1.8164 to $1.20799.

Ripple’s XRP left key support and resistance levels untested early on.

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