THELOGICALINDIAN - Key Highlights
Ripple amount beneath added to new account lows adjoin the US Dollar and Bitcoin. XRP/USD charcoal advertise abreast the $0.1850-0.2025 levels.
Ripple Price Decline and Resistance
There were further declines in Ripple amount beneath the $0.1900 akin adjoin the US Dollar. Yesterday, there was a concise alteration appear the $0.2050. The amount bootless to breach yesterday’s accent bearish trend band at $0.2040 on the alternate chart. It alike bootless to breach the 38.2% Fib retracement akin of the antecedent abatement from the $0.2245 aerial to $0.1910 low.
The abatement resumed and the amount bankrupt the low at $0.1910 and alike bankrupt the $0.1700 support. A new low was formed at $0.1621 from area the amount started a correction. It is currently trading abreast the 38.2% Fib retracement akin of the aftermost abatement from the $0.2050 aerial to $0.1621 low. On the upside, an actual hurdle is abreast a new abutting bearish trend band basic with accepted attrition at $0.1840 on the alternate blueprint of XRP/USD. Moreover, the 50% Fib retracement akin of the last decline from the $0.2050 aerial to $0.1621 low is additionally at $0.1820.
Therefore, any alteration appear the $0.1820-0.1850 levels is acceptable to face sellers in the abreast term. On the downside, the contempo low of $0.1621 can be activated again.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD has aloof confused into the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is convalescent from the oversold levels.
Major Support Level – $0.1620
Major Resistance Level – $0.1850
Charts address – Trading View, Kraken
