Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – September 24th, 2020 – FX Empire

For the day ahead

Litecoin would need to avoid a fall back through the $43.43 pivot to support a run at the first major resistance level at $44.61.

Support from the broader market would be needed, however, for Litecoin to break back through to $44 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $45.12 would likely cap any upside.

Failure to avoid a fall back through the $43.43 pivot level would bring the first major support level at $41.73 into play.

Barring an extended sell-off on the day, however, Litecoin should steer clear of sub-$40 levels. The second major support level at $40.55 should limit any downside.

Looking at the Technical Indicators

First Major Support Level: $41.73

Pivot Level: $43.43

First Major Resistance Level: $44.61

23.6% FIB Retracement Level: $45.30

38.2% FIB Retracement Level: $71

62% FIB Retracement Level: $100

Ripple’s XRP

Ripple’s XRP slid by 5.02% on Wednesday. Reversing a 0.86% gain from Tuesday, Ripple’s XRP ended the day at $0.22126.

Recovering from a mid-morning low $0.23082, Ripple’s XRP struck an early afternoon intraday high $0.23506 before hitting reverse.

Ripple’s XRP came within range of the first major resistance level at $0.0.2352, before sliding to a late intraday low $0.22059.

The sell-off saw Ripple’s XRP fall through the day’s major support levels to wrap up the day at sib-$0.2220 levels.

At the time of writing, Ripple’s XRP was up by 0.88% to $0.22320. A Choppy start to the day saw Ripple’s XRP fall to an early morning low $0.21925 before rising to a high $0.22320.

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



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