Traders having a high-risk tolerance are reaping the rewards from Ripple’s volatility. However, apart from the intraday trading opportunities, XRPUSD seems to be trading in a range.
The story with Litecoin is a bit different from Ripple. LTCUSD seems to be under massive selling pressure. Technical indicators point to further bearish momentum in the short term.
XRPUSD technical analysis and price movement
The day’s range for Ripple is $0.20260 — $0.20618. And the traded volume is over 49 million.
The fifteen-minute timeframe highlights a clear picture of the short-term movement of Ripple. We can see several crests and troughs throughout. However, XRPUSD a closer look reveals that these are bound within a price range.
The most significant of the technical indicators that point to consolidation is the Relative Strength Index or RSI. The pattern is close enough to a straight line.
Litecoin or LTCUSD is suffering a massive sell-off
The fifteen-minute timeframe for LTCUSD does not paint an encouraging picture for its investors. The day’s range is $45.24 — $46.17, and the traded volume is just above 20k.
However, the candlesticks formed by Litecoin indicate that the crypto is currently very less liquid. On top of that, the large candlesticks formed by LTCUSD suggest that it is quite bearish. The green candles are tiny in comparison.
The MACD is significantly bearish. The 20-period Moving Average is giving a ‘sell’ signal for Litecoin in the short term. Most of the oscillators are neutral on Litecoin.
In the absence of any significant bullish momentum, Litecoin would be under increased selling pressure, leading to a further decline in the short term.