THELOGICALINDIAN - Key Highlights
Ripple amount is disturbing to authority on to assets adjoin the US Dollar and Bitcoin. XRP/USD is currently trading abreast a above abutment about $0.2024.
Ripple Price Support
This accomplished anniversary was a roller coaster ride for Ripple amount back it surged higher, bootless abreast $0.3000 and moved bottomward sharply adjoin the US Dollar. The amount was bottomward by added than 20% and traded beneath the $0.2400 abutment area. The downside move was such that the amount alike traded already beneath $0.2000 and acclimatized beneath the 100 alternate simple affective average.
At the moment, the amount is trading abreast $0.2000 and accumulation losses. On the upside, an antecedent attrition is about the 23.6% Fib retracement akin of the aftermost abatement from the $0.2300 aerial to $0.1973 low. There is additionally a concise bearish trend band basic with attrition at $0.2050 on the alternate blueprint of the XRP/USD pair. Above, the trend band resistance, the 100 alternate SMA is abreast $0.2100. The mentioned akin additionally coincides with the 38.2% Fib retracement akin of the aftermost abatement from the $0.2300 aerial to $0.1973 low.
Therefore, a abutting aloft the $0.2100 attrition is appropriate for XRP to abstain any added declines. On the downside, a breach of $0.2024 could booty the amount appear the abutting abutment at $0.1800.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is currently collapsed 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 – $0.2024
Major Resistance Level – $0.2100
Charts address – Trading View, Kraken
