THELOGICALINDIAN - Key Highlights
Ripple amount is surging college adjoin the US Dollar and Bitcoin. XRP/USD ability anon move added college against the $1.00 akin in the abreast term.
Ripple Price Upside Move
There was a fresh upside move accomplished in Ripple amount from the $0.7000 beat low adjoin the US Dollar. The amount succeeded in breaking abounding resistances such as $0.7500 and $0.8000. To alpha with, there was a breach aloft the 50% Fib retracement akin of the aftermost bead from the $0.8400 aerial to $0.6770 low. It opened the doors for added assets aloft $0.7500.
More importantly, yesterday’s accent concise bearish trend band with attrition at $0.7200 was burst on the alternate blueprint of the XRP/USD pair. The brace traded aloft the $0.8500 akin and acquaint a new aerial at $0.9009. It seems like the current uptrend is far from over and the amount ability abide college aloft $0.9000. An antecedent abutment is about the 23.6% Fib retracement akin of the aftermost beachcomber from the $0.6500 low to $0.9009 high. Any above downside move should be bound by the $0.8000 level. Moreover, the 50% Fib retracement akin of the aftermost beachcomber from the $0.6500 low to $0.9009 aerial is at $0.7760 to act as a support.
On the upside, a breach aloft the $0.9000 handle would alarm for a analysis of the $1.00 handle in the abreast term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is accepting clip in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is placed able-bodied in the overbought levels.
Major Support Level – $0.7700
Major Resistance Level – $0.9000
Charts address – Trading View, Kraken
