THELOGICALINDIAN - Key Highlights
Ripple amount is trading with a slight bearish accent adjoin the US Dollar and Bitcoin. XRP/USD has to bright $0.1800 to move aback appear $0.2024.
Ripple Price Upside Hurdle
There was a apathetic and abiding downside move in Ripple amount beneath the $0.1800 akin adjoin the US Dollar. The amount alike bankrupt the $0.1700 abutment and traded as low as $0.1673. Later, the amount formed a abutment abject and started convalescent aloft $0.1700. It confused aloft the 23.6% Fib retracement akin of the aftermost abatement from the $0.1970 aerial to $0.1673 low. However, the upside move was capped by the $0.1820 level.
The 50% Fib retracement akin of the aftermost abatement from the $0.1970 aerial to $0.1673 low acted as a attrition and adequate added gains. Moreover, there is a bearish trend band basic with attrition abreast $0.17800 on the alternate blueprint of XRP/USD. The trend band resistance is abutting to the 100 alternate simple affective boilerplate at $0.1760. Therefore, a abutting aloft the $0.1780 akin and the 100 alternate simple affective boilerplate is bare for added gains.
If there is a abutting aloft $0.1800, the amount could alike analysis the 61.8% Fib retracement akin of the aftermost abatement from the $0.2024 aerial to $0.1673 low at $0.1865. On the downside, the $0.1700 akin charcoal a above abutment in the abbreviate term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is boring affective aback in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is disturbing to move aloft the 50 level.
Major Support Level – $0.1700
Major Resistance Level – $0.1800
Charts address – Trading View, Kraken
