THELOGICALINDIAN - Key Highlights
Ripple amount is convalescent accurately adjoin the US Dollar and Bitcoin. XRP/USD is now aloft $1.40, but adverse a above attrition abreast $1.60 and the 100 alternate SMA.
Ripple Price Resistance
Yesterday, we saw a aloft decline beneath $1.00 in Ripple amount adjoin the US Dollar. The amount traded as low as $0.8399 from area it started an upside move. It confused aloft the 50% Fib retracement akin of the aftermost bead from the $1.9027 aerial to $0.8399 low. The accepted amount activity is absolute back the amount has confused aloft the $1.00 and $1.20 attrition levels.
More importantly, there was a breach aloft yesterday’ accent acute bearish trend band with attrition at $1.45 on the alternate blueprint of the XRP/USD pair. However, the brace is currently facing a above hurdle abreast the $1.50-1.60 levels. The 100 alternate simple affective boilerplate is positioned at $1.60 to act as a above barrier for buyers. Moreover, the 61.8% Fib retracement akin of the aftermost bead from the $1.9027 aerial to $0.8399 low is at $1.49. Therefore, it seems like there is a acute attrition basic abreast $1.50-1.60.
A breach aloft declared $1.60 akin is bare for buyers to accretion control. On the downside, an antecedent abutment is at $1.30. However, the best important abutment is now at $1.20, which is a buy zone.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is now aback in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently able-bodied aloft the 50 level.
Major Support Level – $1.20
Major Resistance Level – $1.60
Charts address – Trading View, Kraken
