THELOGICALINDIAN - Key Highlights
Ripple amount is aback trading in a ambit adjoin the US Dollar and Bitcoin. XRP/USD ability attack an upside breach aloft $0.2024 in the abreast term.
Ripple Price Resistance
After a analysis of the $0.2200 level, there was a downside reaction in Ripple amount adjoin the US Dollar. The amount traded beneath the $0.2100 abutment and confused beneath the 38.2% Fib retracement akin of the aftermost leg up from the $0.1800 low to $0.2200 high. However, the downside move was adequate by the all-important $0.1980-0.1960 abutment area.
Moreover, the 50% Fib retracement akin of the aftermost leg up from the $0.1800 low to $0.2200 aerial additionally acted as a support. At present, the amount is trading in a accustomed ambit aloft the $0.1950 abutment area and flirting with the 100 alternate simple affective average. On the upside, there is a bearish trend band basic with attrition at $0.1990 on the alternate blueprint of the XRP/USD pair. A breach aloft the trend band attrition is appropriate for a move appear $0.2050.
However, if buyers abide in control, there can be an upside addendum appear the $0.2100 akin as well. On the downside, the $0.2024 and $0.2024 levels are important supports. Furthermore, the $0.2024 akin is a acute axis and buy zone. As continued as the amount is aloft $0.2024, there can be an upside breach soon.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is boring affective aback in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is aloof about the 50 level.
Major Support Level – $0.2024
Major Resistance Level – $0.2024
Charts address – Trading View, Kraken
