THELOGICALINDIAN - Key Highlights
Ripple amount is abiding adjoin the US Dollar and Bitcoin. XRP/USD needs to break aloft the $0.2024 abutment to accretion bullish absorption in the abreast term.
Ripple Price Support
There was a nice upside acknowledgment from the $0.1850 abutment in Ripple amount bygone adjoin the US Dollar. The amount traded aloft the $0.2000 attrition and alike surpassed able offers abreast $0.2100. A aerial was formed at $0.2168 from area the amount started a downside correction. It confused beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $0.1850 low to $0.2168 high.
However, the downside was accurate by the $0.2000 handle. The 50% Fib retracement akin of the aftermost beachcomber from the $0.1850 low to $0.2168 aerial forth with the 100 alternate simple affective boilerplate prevented added declines. At present, it seems like there is an ascendance approach basic with abutment at $0.2000 on the alternate blueprint of the XRP/USD pair. The approach abutment is important abreast $0.2000 and the 100 alternate SMA.
The brace needs to breach aloft the approach abutment and the $0.2024 abutment to abide in the bullish zone. Should there be a breach beneath $0.2024, the amount could abatement aback appear the aftermost beat low of $0.1850. On the upside, an actual attrition is abreast $0.2100 followed by $0.2168. A breach aloft $0.2168 ability advance the amount appear $0.2300.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is about to move from the bearish to bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently abreast the 50 level.
Major Support Level – $0.2024
Major Resistance Level – $0.2100
Charts address – Trading View, Kraken
