Forecast for Ripple, Litecoin and Ethereum worked out (thank you, Tesla)

Tesla and Elon Musk became cryptocurrency newsmakers today. Tesla's reports about the purchase of bitcoin provoked the growth of the main cryptocurrency by 10%. After bitcoin, altcoins soared, but much more restrained.

Against this background, it's not only the morning forecast for Ripple that worked out but also for Litecoin and Ethereum.

Thus, the XRP USD quotes, which were trading at the level of 0.4222 today, bounced up from it, but stopped by the resistance level of 0.4532.

What do we have now on the XRP USD chart? Both limits of the 0.3914 - 0.4532 range were confirmed by false shadow breakouts. This is a good signal of a strong confirmation of the level. From a technical point of view, the quotes are now open to its downward trend with the first target at the mirror horizontal of 0.4222. If it is broken from the top down, the next support level will be 0.3914. If the price bounces up from 0.4222, a return to 0.4532 is possible.


Meanwhile, LTCUSD has reached the target of 163.64 and can now continue strengthening towards the upper limit of the technical range of 146.04 - 171.25. And if it does not consolidate above the level of 163.64 and bounces down, it will be possible to look at sales in the sideways direction.


The ETH USD pair is about to gain a foothold above the level of 1697.27, which will allow the quotes to continue growing to the level of 161.8 on the Fibo Extension.


The material has been provided by InstaForex Company -