The overall crypto market witnessed a marginal surge in its market cap at press time. Consequently, many altcoins like Litecoin and Tron reflected an upward price trajectory. However, XRP displayed a gradual drop in its value.
XRP, Litecoin, and Tron witnessed a downturn on 27 October and were in the revival phase as the bearish momentum eased.
Since 10 October, Ripple’s XRP traversed in a downtrend between two parallel lines by noting decreasing highs. The altcoin touched its four-week low on 27 October at $0.9483. Since then, it bounced back between the parallel lines as buyers gained momentum.
Key technicals pointed at ease in bearish momentum in the near term. XRP bears found support at $1.0443 as it traded at $1.0613 and registered a 3% loss on its weekly charts.
The Relative Strength Index (RSI) surged by over 20 points over the last day and was just below the midline. This reading indicated significant ease in bearish power.
Also, the Awesome Oscillator (AO) displayed shorter green bars in favor of buyers as it approached the midline. Additionally, the MACD histogram flashed green signals. However, the ADX stood at 23, depicting a slightly weak directional trend.
LTC projected a bullish outlook over the last month as it oscillated within a parallel ascending channel. The resultant outcome was reflected on its charts as it noted a 32.61% monthly gain. However, the price action witnessed a blip as it plunged to its two-week low on 27 October.
Nonetheless, the bulls exerted pressure and ensured support at $177. Now, if the bulls failed to sustain their pressure, bears aimed to push the support at $169.5. The altcoin traded at $190.3 and noted a 2% increase over the last day.
The RSI surged by 15 points over the last day, indicating increasing buying strength. Moreover, the MACD histogram and the AO flashed green signals and resonated with increasing RSI. Nevertheless, the ADX stood at 16.7, depicting a weak directional trend.
The altcoin traded at $0.0965 and noted a 1.08% gain on its charts in the last 24 hours. Over the past month, TRX fluctuated in an uptrend, as displayed by the higher highs marked on its trendline. However, TRX bears exerted constant pressure and found support at $0.08681.
The digital currency saw a pullback on 27 October as its price hit the one-month low. Over the past day, bulls demonstrated their power as the price surged. Key technicals hinted at increasing buying strength in the near term.
The RSI stood near the half-line after surging from below the oversold territory. Furthermore, the MACD and AO flashed green signals and confirmed the previous readings.
This news is republished from another source. You can check the original article here.