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XRP, LTC, ADA and LINK Price Analysis for December 21

Can these top altcoins bounce back faster than Bitcoin (BTC)?

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Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of CryptoComes. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The cryptocurrency market has entered a correction phase, with all coins from the top 10 list being in the red. The biggest loser is the recent gainer Litecoin (LTC) whose price has gone down by almost 11 percent since yesterday.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The key data for XRP, Litecoin (LTC), Cardano (ADA), and Chainlink (LINK).

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

XRP 

XRP

$23,018,516,758 $0.516453 $11,043,734,003 -10.37%

Litecoin

LTC

$6,874,205,012 $105.46 $10,316,710,498 -10.98%

Cardano

ADA

$4,633,734,023 $0.150171 $1,084,032,339 -8.51%

Chainlink

LINK

$4,886,993,534 $12.39 $1,447,419,620 -7.55%

XRP/USD 

XRP is one of the biggest losers today. The price of the third most popular crypto has gone down by more than 10 percent.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

Judging by the daily chart, there is a high chance of a bounce back to the local resistance at $0.5832.

👉 MUST READ BTC, ETH and XRP Price Analysis for December 20related article image

Such a move is confirmed by the low selling trading volume. However, it is too early to consider the continued growth as bulls have not seized the initiative.

XRP is trading at $0.5236 at press time.

LTC/USD 

Litecoin (LTC) is the biggest loser today. The price of "digital silver" has declined by 11 percent over the last day.

LTC/USD chart by TradingView
LTC/USD chart by TradingView

Litecoin (LTC) is trading similarly to XRP as one might expect short-term growth. The bounce may get the price of LTC back to $110 before a more profound drop occurs.

Litecoin is trading at $107.34 at press time.

ADA/USD 

Cardano (ADA) is not an exception, with its price recording a decrease of 8.51 percent.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

From a technical point of view, the drop has not ended yet. Traders may expect one more wave of decline to the support at $0.1371. However, the crucial support is located at around $0.11 where most of the liquidity is focused.

Cardano is trading at $0.1514 at press time.

LINK/USD 

Chainlink (LINK) has weathered the storm better than the aforementioned altcoins. Its price has gone down by "only" 7.55 percent.

LINK/USD chart by TradingView
LINK/USD chart by TradingView

Chainlink (LINK) is likely to keep going down even though the price of the coin has not decreased as most of the other ones. The potential bounce may happen when the price of the altcoin touches the support at $11.32.

Chainlink is trading at $12.45 at press time.

 

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Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@cryptocomes.com