Most of the top 10 cryptocurrencies lost their steam over the weekend. Last Thursday, after Crude’s miraculous rebound, BTC, ETH, XRP, LTC broke past their resistance levels. However, as on April 27, many of these are in the consolidation phase, and some have started declining.
Litecoin LTCUSD has declined more than 2% today, while Ripple XRPUSD is heading towards a significant fall.
XRPUSD technical analysis and price prediction
XRPUSD Chart, Source: TradingView.com
Here’s the hourly timeframe chart for XRP. The three red candles at the end, which generated within the body of the preceding candle, formed the ‘Three Black Crows‘ pattern. It is a confirmed ‘Bearish pattern.’
XRP is currently trading at $0.19507. The price could drop to $0.18. In the short term, Ripple shows strong Bearish signals. Most of the moving averages point to a sell.
After the sudden burst of momentum on Thursday last week, analysts started claiming that XRP could reach $0.22 soon. The chances of that happening seem to be bleak as of now.
Prediction and analysis of LTCUSD. price movement
LTCUSD Chart, Source: TradingView.com
Litecoin seems to be more bearish as compared to Ripple. Here is the LTCUSD hourly price chart. It is currently trading at $43.61.
The red candles are bigger and more in number. The spike in the volumes is associated with red candles. It indicates that LTCUSD is in a bear market.
Moreover, the Relative Strength Index or RSI, shows heavy selling. It is headed towards the oversold territory. The movement in the RSI shows that further selling and dropping of thLTCUSD is more likely.
The coming three weeks before the Bitcoin halving in May will undoubtedly be testing times for the Altcoins.