THELOGICALINDIAN - Key Highlights
Ripple amount faced a lot of affairs burden adjoin the US Dollar and Bitcoin. XRP/USD could advance declines and it may anon analysis or breach the $1.50 level.
Ripple Price Decline
It seems like the current bearish pressure is actuality to breach on Ripple amount beneath $2.00 adjoin the US Dollar. The amount was beneath a lot of burden and it confused beneath the $1.80 and $1.70 abutment levels. The downside move is able and the amount is now beneath the $1.65 level. Recently, there was a accretion from the $1.6062 beat low with a breach of the 23.6% Fib retracement akin of the aftermost abatement from the $2.38 aerial to $1.60 low.
However, the upside move was capped by the $2.00 handle. Moreover, the 50% Fib retracement akin of the aftermost abatement from the $2.38 aerial to $1.60 low additionally acted as a resistance. Added importantly, yesterday’s accent acute bearish trend band with accepted attrition at $1.85 is still in abode on the alternate blueprint of the XRP/USD pair. It may abide to act as a able barrier for buyers aloft $2.00. As continued as the amount is beneath the $2.00 handle, it remains at a risk of added losses beneath $1.60.
A breach beneath the $1.60 akin could accessible the doors for a analysis of the $1.50 level. Beneath the $1.50 level, there is a adventitious an addendum appear the $1.40 level.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is now placed in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is branch lower appear the 25 level.
Major Support Level – $1.50
Major Resistance Level – $2.00
Charts address – Trading View, Kraken
