Ripple (XRP) price capable of withstanding a final decline before a rebound
Although the weakness has caused massive turmoil over the past few days, the cryptocurrency industry appears to have escaped the storm. At a time when the price of Bitcoin is struggling to stay above $67,500, Ripple is showing significant strength and it could soon reach a critical level. With the price testing the ‘lay resistance’ area for over two weeks, the question appears to be whether the bulls are ready enough to initiate a breakout.
The weekly chart of the XRP price has been studied within a decisive symmetrical triangle over a period of time. Bulls are having serious trouble breaking the resistance line, resulting in persistent rejection. However, support levels remain elevated as RSI trades within its average range. Moreover, DMI is showing a downward trend, which suggests that the token may fall slightly to $0.55, beyond which a strong bounce could break the triangle.
Litecoin (LTC) price holding power
Litecoin price has been considered the most undervalued token since it is the first altcoin to last so far. In 2021, bulls could push the price to $380 and more significant price action is expected. However, after rebounding from the low of $40, the price of LTC surged past $110, prolonging the downtrend. Meanwhile, the price has crossed the crucial triangle and the token is retesting the support.
Litecoin price faced a massive downturn in the last few days of February after breaking out of a triangle and testing the 200-day weekly MA level. However, the 100-day weekly moving average is providing a strong foundation, which could trigger a healthy bounce in the coming days. Moreover, MACD has been bullish for a long time, but has moved into a bullish range over the past few days. So, after some retesting, the LTC price appears confident of a massive rise that could push it past its previous highs and reach levels above $500.