IOTA, Ripple and Litecoin end the week positively
The cryptocurrency space saw a great week last week, as the week off was capped off with a $26 million market cap boost for Ripple. Meanwhile, Litecoin has been on an upward swing, with a market cap of around $300 million, up from around $140 million when the week started. While many are focusing their attention on the market cap, I’m going to focus on how they performed over the week. And as always, I will be including my own thoughts and opinions in the following sections.
In the last week the crypto markets saw a major correction as a result of the U.S. stock market closing, and the Federal Reserve announcing that they would raise rates three times in 2018. Despite the dip, the digital asset markets showed signs of recovery as IOTA, Ripple and Litecoin ended the week on a positive note, with IOTA seeing the biggest gain and Ripple taking a slight dip.. Read more about why xrp is falling and let us know what you think.
A shaky start to the week may turn into gains if the bitcoin market as a whole improves.
The cryptocurrency market got off to a shaky start this week, with Bitcoin falling below $38,000 and Ether falling below $2,300. The wider cryptocurrency market, on the other hand, has turned things around, with Bitcoin now trading over $41,000 and Ether approaching $3,000.
Following a shaky start, Ripple (XRP), Litecoin (LTC), and IOTA (MIOTA) are all finishing the week on a high note. If the wider crypto market continues on its upward trajectory, the gains may be extended throughout the weekend.
XRP Price Predictions
XRP has been the worst performance of the three, losing 2% in the last week. However, the bulls’ success during the last 24 hours may encourage them to go on a longer run this weekend.
4-hour chart of XRP/USD. Source: Coinalyze
To start a rally, XRP has to stay clear of the $0.72 pivot, as this would trigger the first significant resistance level at $0.75. Before any retreat, XRP may test the barrier at $0.78 if it receives support from the broader market.
If XRP falls below the pivot level of $0.72, the bulls will be pushed to the first major support level of $0.71. If the market continues to fall, the second key support level at $0.69 may be exposed.
LTC Price Predictions
After a shaky start to the week, Litecoin has performed well. LTC is now up over 3% this week and seems certain to continue its upward trend in the next hours and days. LTC is presently trading at $145 per coin, and it will need to avoid the $142 pivot in order to rise beyond the $147 resistance level.
4-hour chart of LTC/USD. Source: Coinalyze
If the market as a whole rebounds higher, Litecoin may test and possibly exceed the second key resistance level around $151. If LTC fails to escape the pivot at $142, it may find it difficult to defend the first major support level at $138. Unless there is a prolonged negative run in the market, bulls should stay clear of the $135 sub-level.
IOTA Price Predictions
Among the three, IOTA is the greatest performance this week. Its price has risen by 4.8 percent in the last 24 hours. If IOTA wants to continue its current rally, it must avoid the $0.82 pivot, which will enable it to attack the first resistance level at $0.94. If the surge continues, IOTA may break over the $1 barrier for the first time in weeks.
4-hour chart of IOTA/USD. Source: Coinalyze
If the market’s negative mood resumes, IOTA may lose its $0.82 support and fall to the $0.78 crucial level. The next major support level at $0.72 should restrict any further negative movement unless there is a big sell-off.
As the week rolls on, we make our picks for the winners in the top 10 cryptocurrencies and the top altcoins of the week. Ethereum, Ripple and Litecoin will be the big gainers over the week, while Bitcoin, Tether, Tron, Monero and IOTA will be the ones to lose.. Read more about xrp price prediction and let us know what you think.
This article broadly covered the following related topics:
- cryptocurrency prices
- coin market cap
- xrp news
- xrp to cad converter