THELOGICALINDIAN - Key Highlights
Ripple amount beneath heavily adjoin the US Dollar and Bitcoin. XRP/USD is currently abutting $0.2550-0.2600 area it may face sellers.
Ripple Price Resistance
We saw a good upside move in Ripple amount bygone appear the $0.2800 akin adjoin the US Dollar. The traded as aerial as $0.2798 and after started a downside move. It bankrupt the $0.2700 abutment and additionally confused beneath the 50% Fib retracement akin of the aftermost beachcomber from the $0.2318 low to $0.2798 high. During the downside, it bankrupt yesterday’s accent bullish trend band with abutment at $0.2600 on the alternate chart.
The brace alike bankrupt the $0.2400 abutment and traded as low as $0.2308. Later, it started acclimation college and confused aloft the 23.6% Fib retracement akin of the aftermost bead from the $0.2798 aerial to $00.2308 low. At the moment, the brace is adverse a above attrition abreast $0.2500 and the 100 alternate simple affective average. The stated resistance is additionally the 38.2% Fib retracement akin of the aftermost bead from the $0.2798 aerial to $00.2308 low.
Moreover, there is a aloft bearish trend band basic with attrition abreast $0.2550 on the alternate blueprint of the XRP/USD pair. Therefore, it won’t be accessible for the brace to move aloft $0.2550-0.2600. However, it charcoal in an uptrend as continued as aloft $0.2250.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD has confused aback in the bullish zone, which is a absolute sign.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is still able-bodied beneath the 50 level.
Major Support Level – $0.2400
Major Resistance Level – $0.2550
Charts address – Trading View, Kraken
