Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – July 22nd, 2021

For the day ahead

Litecoin would need to avoid the $114 pivot to bring the first major resistance level at $123 into play.

Support from the broader market would be needed, however, for Litecoin to break out from Wednesday’s high $119.22.

Barring an extended crypto rally, the first major resistance level and resistance at $125 would likely cap any upside.

In the event of an extended breakout, Litecoin could test resistance at $135. The second major resistance level sits at $128.

A fall through the $114 pivot would bring the first major support level at $109 into play.

Barring another extended sell-off, however, Litecoin should steer clear of sub-$100 levels. The second major support level at $100 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $109

Pivot Level: $114

First Major Resistance Level: $123

23.6% FIB Retracement Level: $178

38.2% FIB Retracement Level: $223

62% FIB Retracement Level: $296

Ripple’s XRP

Ripple’s XRP rallied by 7.90% on Wednesday. Reversing a 5.22% slide from Tuesday, Ripple’s XRP ended the day at $0.56956.

A choppy start to the day saw Ripple’s XRP slide to an early morning intraday low $0.52000 before making a move.

Steering clear of the first major support level at $0.5066, Ripple’s XRP rallied to a late intraday high $0.58395.

Ripple’s XRP broke through the first major resistance level at $0.5601 to end the day at $0.569 levels.

At the time of writing, Ripple’s XRP was up by 1.10% to $0.57580. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.56750 before rising to a high $0.57664.

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

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