Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – May 11th, 2021


For the day ahead

Litecoin would need to move through the $370 pivot to support a run at the first major resistance level at $403.

Support from the broader market would be needed, however, for Litecoin to break back through to $400 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s new swing hi $413.91 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $430. The second major resistance level sits at $447.

Failure to move through the $370 pivot would bring the first major support level at $327 and the 23.6% FIB of $322 into play.

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

Looking at the Technical Indicators

First Major Support Level: $327

Pivot Level: $370

First Major Resistance Level: $403

23.6% FIB Retracement Level: $322

38.2% FIB Retracement Level: $265

62% FIB Retracement Level: $174

Ripple’s XRP

Ripple’s XRP slid by 9.39% on Monday. Following on from a 1.80% fall on Sunday, Ripple’s XRP ended the day at $1.39233.

A mixed start to the day saw Ripple’s XRP rise to a mid-morning intraday high $1.62821.

Ripple’s XRP broke through 23.6% FIB of $1.5426 and the first major resistance level at $1.6077 before hitting reverse.

The reversal saw Ripple’s XR tumble to a late intraday low $1.2000.

Ripple’s XRP fell through the 23.6% FIB of $1.5426, the 38.2% FIB of $1.2807, and the day’s major support levels.

Finding late support, however, Ripple’s XRP broke back through the third major support level at $1.2216 and the second major support level at $1.3740.

Ripple’s XRP also broke back through the 38.2% FIB of $1.2807 to end the day at $1.39 levels.

At the time of writing, Ripple’s XRP was flat at $1.39230. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.41009 before falling to a low $1.38569.

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



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