THELOGICALINDIAN - Key Highlights
Ripple amount bankrupt a key abutment adjoin the US Dollar and Bitcoin. XRP/USD ability actual added in the abreast appellation appear the $0.2350 level.
Ripple Price Resistance
Yesterday, we discussed that Ripple amount is approaching a break either aloft $0.2640 or beneath $0.2600 adjoin the US Dollar. The amount bootless to accomplish an upside move and started crumbling beneath $0.2600. It bankrupt yesterday’s accent application triangle arrangement with abutment at $0.2600 on the alternate blueprint of the XRP/USD pair. It opened the doors for added losses beneath $0.2550.
The affliction allotment was a abutting beneath $0.2500 and the 100 alternate simple affective average. The amount has confused beneath the $0.2500 handle and traded appear $0.2400. It ability actual a few credibility college appear $0.2460. An antecedent attrition is about the 23.6% Fib retracement akin of the aftermost abatement from the $0.2660 aerial to $0.2400 low abreast $0.2460. Above $0.2460, the 50% Fib retracement akin of the last decline from the $0.2660 aerial to $0.2400 low at $0.2530 would act as a hurdle.
Moreover, the triangle attrition trend band is at $0.2600, which ability abide to stop the upside move. On the downside, there are affairs that the amount could analysis $0.2350. Below the last, the amount could alike analysis the $0.2300 handle in the abreast term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is now placed able-bodied into the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is branch appear the acute oversold levels.
Major Support Level – $0.2350
Major Resistance Level – $0.2550
Charts address – Trading View, Kraken
