Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – May 15th, 2021

For the day ahead

Litecoin would need to avoid a fall through the $325 pivot and the 23.6% FIB of $322 to support a run at the first major resistance level at $341.

Support from the broader market would be needed, however, for Litecoin to break back through to $340 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $345 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $370. The second major resistance level sits at $356.

Failure to avoid a fall through the $325 pivot and the 23.6% FIB would bring the first major support level at $310 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$300 levels. The Second major support level sits at $294.

Looking at the Technical Indicators

First Major Support Level: $310

Pivot Level: $325

First Major Resistance Level: $341

23.6% FIB Retracement Level: $322

38.2% FIB Retracement Level: $265

62% FIB Retracement Level: $174

Ripple’s XRP

Ripple’s XRP rose by 2.98% on Friday. Following on from an 8.67% rally on Thursday, Ripple’s XRP ended the day at $1.4054.

A mixed start to the day saw Ripple’s XRP fell to a mid-morning intraday low $1.32289 before making a move.

Steering clear of the 38.2% FIB of $1.2807 and the first major support level at $1.2461, Ripple’s XRP struck a late afternoon intraday high $1.4500.

Ripple’s XRP broke through the first major resistance level at $1.4356 before a pullback to $1.34 levels.

Steering clear of sub-$1.30 levels, Ripple’s XRP found late support to wrap up the day at $1.40 levels.

At the time of writing, Ripple’s XRP was up by 0.37% to $1.41066. A bullish start to the day saw Ripple’s XRP rise from an early morning low $1.40100 to a high $1.41709

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

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