According to the price analysis of Johan Tomasson, senior analyst at, Ripple (XRP) is currently trading inside a symmetrical triangle. The next move will start either on a breakout or a breakdown from the triangle. After failing to break down of the triangle, the price has risen close to the resistance line of the triangle. The horizontal zone of $0.45 to $0.47919 might act as a resistance. Nonetheless, with both the moving averages sloping up and the RSI in positive territory, the bulls have the upper hand, said Tomasson.

A breakout of the triangle has a target objective of $0.57259, above which the rally can extend to $0.6250. Conversely, if the XRP/USD pair turns down from the resistance line of the triangle, it can again slump to the trendline of the triangle. A breakdown of this level will indicate weakness. The trend will turn bearish on a breakdown of $0.35660. Traders can trail the stop loss on the long position to $0.37. Litecoin (LTC) is an uptrend, said senior analyst. Though the bulls have managed to sustain the breakout above the ascending channel, they are struggling to push the price above the overhead resistance of $140.3450. Nevertheless, both the moving averages are sloping up and the RSI is close to the overbought zone, which shows that bulls have the upper hand. A breakout and close above $140.3450 will propel the LTC/USD pair towards $158.91and if that level is also crossed, the next target is $184.7940. However, as the price moves up, the probability of a sharp correction increases. Tomasson thinks that, traders can trail the remaining long position with the stop loss just below the 20-day EMA. If the price breaks down of the 20-day EMA, it can dip to the next support at the 50-day SMA. The trend will turn negative on a fall below the support line of the ascending channel.


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