THELOGICALINDIAN - Key Highlights
Ripple amount confused bottomward added adjoin the US Dollar and Bitcoin. XRP/USD is acceptable to abatement beneath $0.1700 and charcoal at risk.
Ripple Price Resistance
There was a bear leg accomplished from the $0.1969 aerial in Ripple amount adjoin the US Dollar. The amount beneath boring and steadily, affective beneath the $0.1900 abutment area. Yesterday, I mentioned that the amount could analysis the $0.1700 level. The amount did barter beneath the $0.1750 akin and about activated the $0.1700 level. There was a breach of the 50% Fib retracement akin of the aftermost up move from the $0.1500 low to $0.1970 high.
XRP is now able-bodied beneath the 100 alternate simple affective boilerplate and $0.1900, which is a bearish sign. The abutting abutment on the downside is abreast the 61.8% Fib retracement akin of the aftermost up move from the $0.1500 low to $0.1970 high. On the upside, there are two key bearish trend curve basic with resistance abreast $0.1800 and $0.1880 on the alternate blueprint of XRP/USD. Moreover, the 100 alternate simple affective boilerplate is additionally positioned aloft the aboriginal trend band at $0.1850.
Therefore, the amount faces abounding hurdles on the upside beneath $0.2024. A accretion won’t be accessible and any rallies from the accepted levels appear $0.2024 abide capped. On the downside, the $0.1650 ability be activated in the abbreviate term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is currently in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD has accomplished the oversold levels.
Major Support Level – $0.1700
Major Resistance Level – $0.1850
Charts address – Trading View, Kraken
