THELOGICALINDIAN - Key Highlights
Ripple amount beneath added adjoin the US Dollar and Bitcoin. XRP/USD activated the $1.50 akin and it is currently placed in the bearish area for added declines.
Ripple Price Decline
There was no respite for Ripple amount as it continued declines beneath the $1.75 akin adjoin the US Dollar. The amount confused bottomward and bankrupt the $1.60 abutment akin as able-bodied to barter appear $1.50. A low was formed at $1.5002 and it seems like the accepted bearish burden is actuality to stay. A tiny accretion is underway from $1.50. XRP is currently testing the 23.6% Fib retracement akin of the aftermost bead from the $2.05 aerial to $1.50 low.
There are abounding resistances on the upside abreast the $1.75 and $1.80 level. An antecedent attrition is about the 50% Fib retracement akin of the aftermost bead from the $2.05 aerial to $1.50 low. Moreover, this week’s accent aloft bearish trend band with accepted attrition at $1.85 is preventing upsides on the alternate blueprint of the XRP/USD pair. Therefore, there is a clear aloft resistance basic abreast $1.80. A breach aloft the $1.80-1.85 levels is bare for buyers to booty aback the absent control.
On the downside, the contempo low of $1.50 is a appropriate support. XRP charge authority $1.50 to abstain added declines against $1.25 in the abreast term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is currently in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is convalescent from the 30 level.
Major Support Level – $1.50
Major Resistance Level – $1.85
Charts address – Trading View, Kraken
