THELOGICALINDIAN - Key Highlights
Ripple amount is boring accepting bullish drive adjoin the US Dollar and Bitcoin. XRP/USD is currently able-bodied accurate on the downside abreast $0.2300.
Ripple Price Support
After a sharp correction appear $0.2050, Ripple amount begin abutment adjoin the US Dollar. The amount started an upside move and traded aloft the $0.2300 and $0.2400 attrition levels. It afresh activated the $0.2500 attrition area it struggled and started a downside correction. It has confused beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $0.2050 low to $0.2500 high.
However, the downside move is award abutment abreast $0.2300 and 100 alternate simple affective average. Moreover, the 38.2% Fib retracement akin of the aftermost beachcomber from the $0.2050 low to $0.2500 aerial additionally acted as a support. It seems like there is an ascendance approach basic with abutment abreast $0.2320 on the alternate blueprint of the XRP/USD pair. As continued as the brace is aloft the $0.2300 abutment and the 100 alternate SMA, it remains in an uptrend.
It will best acceptable resume its upside move appear $0.2500 in the abreast term. Above $0.2500, the amount could move appear the aftermost beat aerial of $0.2650. On the downside, a breach beneath the $0.2300 abutment would alarm for added declines. The abutting important abutment in the mentioned case is about $0.2150.
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 currently able-bodied beneath the 50 level.
Major Support Level – $0.2300
Major Resistance Level – $0.2500
Charts address – Trading View, Kraken
