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Weekend Price Outlook: Tezos (XTZ), Litecoin (LTC) and Ripple (XRP)


With ETH and BTC in the limelight, altcoins like Tezos and Litecoin could see further gains

Litecoin, Ripple and Tezos are among altcoins to see a minor drawdown in prices this Friday morning. But contextualised against the broader crypto market, sentiment looks to be positive as traders eye new moves.

Here’s a brief perspective on the technical outlook for Litecoin (LTC), Tezos (XTZ), and Ripple (XRP) ahead of Friday’s $625 million BTC options expiry.

Tezos price

XTZ price is trading near a critical resistance zone that has previously contributed to the overall price direction of the coin since the 37% crash on 19 May. The price ceiling is around $3.31 on the daily chart, which keeps XTZ/USD within a large descending channel.  

XTZ daily chart. Source: TradingView

Technicals (the daily RSI is above 60 and the daily MACD has formed a bullish crossover) suggest the short-term outlook favours fresh upside moves.

If bulls breach the resistance line of the channel, targets in the next few days would be at the 23.6% Fib level ($3.57) and the 38.2% Fib level at ($4.49).

On the downside, bears can target the 50 EMA ($3.00) and the horizontal line around $2.08.

Litecoin price

LTC/USD is looking to extend gains above $140 after a decent bounce to intraday highs of $147. The RSI is near the overbought territory, while the MACD on the daily chart is beginning to increase in the bullish zone.

The 50% Fib retracement level ($151) and the 61.8% Fib retracement level ($162) provide the next two major resistance zones. If the price clears above these hurdles, bulls could eye $180 and then $200. 

LTC/USD daily chart. Source: TradingView

On the downside, bids below $140 could encourage bears to target the 50 MA ($134) and the crucial zone near the $130 level. A break to the 23.6% Fib level ($127) could see LTC/USD refresh losses to $120.

Ripple price

XRP bounced off the $0.52 support level on 21 July and rose to highs of $0.77, testing the 200 MA. The zone is also home to a long-term resistance line from November 2020, which is putting pressure on the bulls. 

XRP/USD daily chart. Source: TradingView

However, the RSI and the MACD offer bullish signals, suggesting buyers are in charge short term. Also, the appearance of a bullish flag pattern on the daily chart suggests bulls might break above the 200 MA ($0.79) and target new momentum above the 50% Fibonacci retracement level ($0.81) and then $0.91.

On the flipside, primary support is at $0.70, $0.62 and $0.51.

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