THELOGICALINDIAN - Key Highlights
Ripple amount is boring affective bottomward adjoin the US Dollar and Bitcoin. XRP/USD has to breach the $1.5000 attrition to accretion upside drive against $1.7500.
Ripple Price Resistance
After a nice upside move aloft the $1.7000 level, Ripple amount struggled to accretion drive adjoin the US Dollar. The amount formed a aerial abreast $1.7440 and started a downside correction. It confused bottomward and bankrupt the $1.6000 abutment and the 23.6% Fib retracement akin of the aftermost beachcomber from the $0.8829 low to $1.7440 high. More importantly, there was a breach beneath the $1.5000 abutment and the 100 alternate simple affective average.
XRP amount is currently testing the 50% Fib retracement akin of the aftermost beachcomber from the $0.8829 low to $1.7440 high. As continued as the amount is beneath the $1.5000 resistance, it charcoal at a accident of more declines in the abreast term. The declared $1.5000 attrition is abutting to the 100 alternate SMA. Therefore, if the amount moves higher, it could face sellers abreast $1.5000. There is additionally a key bearish trend band basic with attrition at $1.5000 on the alternate blueprint of the XRP/USD.
On the downside, the $1.3000 akin is a appropriate support. Should there be a breach beneath $1.3000, the amount could analysis the $1.2500 and $1.2025 levels. Any added declines would alarm for a analysis of the $1.0000 level.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is boring affective in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently aloof beneath the 50 level.
Major Support Level – $1.3000
Major Resistance Level – $1.5000
Charts address – Trading View, Kraken
