Ripple’s Ethereum, Litecoin and XRP – Daily Technical Analysis – October 26, 2020


For the day ahead

Litecoin should avoid a fall through the $ 58.47 pivot to support a run at the first major resistance level at $ 60.39.

However, support from the broader market would be needed for Litecoin to break out of Sunday’s $ 59.99 high.

Barring an extended cryptocurrency rally, the first major resistance level would likely limit any upside.

In the event of a breakout, Litecoin will likely test the second major resistance level at $ 61.90.

Failure to avoid a fall through the $ 58.47 pivot level would bring the first major support level at $ 56.96 into play.

Barring a prolonged sell-off later in the day, however, Litecoin should avoid sub-$ 55 levels. The second major support level at $ 55.04 should limit any downside.

Looking at the technical indicators

First major support level: $ 56.96

Pivot Level: $ 58.47

First major resistance level: $ 60.39

23.6% FIB Retracement Level: $ 45.30

38.2% FIB Retracement Level: $ 71

62% FIB Retracement Level: $ 100

Ripple’s XRP

Ripple’s XRP fell 1.20% on Sunday. Reversing a 0.54% gain from Saturday, Ripple’s XRP ended the week up 4.52% at $ 0.25323.

It was a mixed start to the day. Ripple’s XRP rose to a morning intraday high $ 0.25738 before reversing.

Failing to reach the first major resistance level at $ 0.2583, Ripple’s XRP fell to a mid-morning intraday low $ 0.25151.

Ripple’s XRP broke through the first major support level at $ 0.2535 before finding support. A recovery to $ 02530 levels limited the day’s downside. However, the first major support level stalled Ripple’s XRP towards the end of the day.

At the time of writing, Ripple’s XRP was down by 0.05% to $ 0.25310. A mixed start to the day saw Ripple’s XRP rise to a morning high $ 0.25341 before falling to a low $ 0.25309.

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

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