Amid Bitcoin's price consolidation, altcoins like XRP and Litecoin show attempts to maintain an upward trend, yet their prices have come under bearish influence.
XRP Price Analysis
Following a nearly 500% increase, XRP is in a phase of declining consolidation. Currently, the token is under significant bearish influence, forming consistent lower highs and lows. However, short-term expectations point towards potential growth, as the stochastic RSI reaches the lower oversold zone, indicating a possible bullish crossover.
Litecoin Price Analysis
Litecoin is also trading within a symmetrical triangle. The price is failing to rise above the triangle's resistance, which could lead to a 6-8% correction. The stochastic RSI has indicated a bearish crossover but hasn't reached the lower support yet. The price may continue its downtrend in the coming hours to around $110.
Breakout Potential
Both XRP and Litecoin show similar chart patterns indicating potential breakouts. Despite returning to lower support levels, both tokens show prospects for growth given an increase in buying volume.
Despite current downward trends, XRP and Litecoin retain the potential for growth. A breakout from current patterns might be possible with an increase in buyer participation.
