Ripple[XRP] and Litecoin[LTC] ride a downward momentum 18076
Analysis
Priyanka Babu
Jul 10, 2018 at 4:00 PM

The battle of coins in the crypto market is braving a bearish storm as most of the coins including the top-ranked crypto coins like Ethereum and Bitcoin is struggling with a slump in prices. Most notably Ripple and Litecoin can be seen submerging in a pool of sharp loss. XRP and LTC ranked at number three and six respectively, saw a reversal in trends and is currently on a downward momentum with no promises of a recovery.

XRP/USD

XRP price displayed a downward correction yesterday. It broke two major support levels recorded at $0.4721 and $0.4640. The price started sinking from the swing high of $0.4790 and is currently trading at $0.4589. XRP shows no promise of reversal of trends and is continuing the decline. Looking at the trading charts, a deep chasm divides the current price and the 100 EMA line representing a detrimental downtrend.

Ripple[XRP] and Litecoin[LTC] ride a downward momentum-BCFocus

Ripple[XRP] Price Prediction 2018

The Economy Forecast Agency predicts the value of XRP could fall further – due to technology partnerships not fulfilling a promise (which is a polite way of saying Ripple’s products are useless and that banks will stop using them). They say that Ripple could fall to $0.32 by December 31st, 2018, which would represent a 52% fall from its current price of $0.48.

According to RippleCoinNews, XRP will rise to $8-10 dollars. According to Investingpr, XRP can end the year around more than triple or 3-5 dollars. This will almost be a 10-time rise from the current levels.

See Also: Ripple [XRP] at crossroads: The bright side of a lawsuit

LTC/USD

Litecoin charts feature more red candlesticks indicating a slump in prices. It has experienced a breakout in the support level set at $78.127. The key resistance level can be traced at $82.441.  LTC is currently trading at $78.09 and it has lost against USD by 5.19% over the past 24 hours.  The 100 EMA line represents a downtrend and the MACD is placed in the bearish zone.

Ripple[XRP] and Litecoin[LTC] ride a downward momentum-BCFocus

Litecoin Price Prediction 2018

According to Walletinvestor, the Litecoin price can go up from 83.085 USD to 204.249 USD in one year. The price in five years is predicted to be 766.710 USD.  LTC has a long-term earning potential of 145.83% in one year.

According to Longforecast, LTC price by the end of the year would be $40. This will imply a loss of 50.6% for the coin by the end of the year. By 2020, the coin prices are predicted to reach $126 which will signify a gain of 55.6%.

According to Investingpr,  Litecoin has the potential to scale far beyond anything Bitcoin is capable of at the moment. If the rate of adoption along with the number of developers working increases there are chances for a price hike. According to Oracletimes,  the Litecoin price will be $1000 by 2020.

Coindesk believes that if Litecoin stays above $240 for a short period of time, then it could reach the $300 mark quite soon. Litecoin could benefit from the positive news of founder, Charlie Lee, and the launch of its new features.

Image via Shutterstock

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