• rippleXRP$1.56-2.66%

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – May 1st, 2021 – FX Empire

Share This Post

Share on facebook
Share on linkedin
Share on twitter
Share on email

For the day ahead

Ripple’s XRP jumped by 14.39% on Friday. Reversing a 2.90% loss from Thursday, Ripple’s XRP ended the month up by 180.63% to .60042.
23.6% FIB Retracement Level: 0
Ripple’s XRP broke through the day’s major resistance levels and the 23.6% FIB of .5426 to end the day at .60 levels.
Barring another extended sell-off, Litecoin should steer clear of sub-0 levels. The second major support level sits at 5.
After a mixed start to the day, Ripple’s XRP fall to an early morning intraday low .37663 before making a move.
First Major Resistance Level: 9

Looking at the Technical Indicators

Pivot Level: 6
First Major Support Level: 8
Barring an extended crypto rally, the first major resistance level and resistance at 0 would likely cap any upside.
38.2% FIB Retracement Level: 7
62% FIB Retracement Level: 8
Failure to avoid a fall through the 6 pivot level would bring the 23.6% FIB of 2 and the first majors support level at 8 into play.

Ripple’s XRP

In the event of another breakout, Litecoin could test resistance at 0. The second major resistance level sits at 7.
Steering clear of the first major support level at .3463, Ripple’s XRP rallied to a mid-day intraday high .63938.
Support from the broader market would be needed, however, for Litecoin to break out from Friday’s high 3.87.
Litecoin would need to avoid the 6 pivot level to support a run at the first major resistance level at 9.

At the time of writing, Ripple’s XRP was up by 1.19% to $1.61946. A mixed

Subscribe To Our Newsletter

Get updates and learn from the best

More To Explore