THELOGICALINDIAN - Key Highlights
Ripple amount has started an upside move adjoin the US Dollar and Bitcoin. XRP/USD is convalescent and assuming bullish signs aloft $0.2024.
Ripple Price Bounces Back
We saw a major decline during the accomplished few canicule in Ripple amount appear $0.2000 adjoin the US Dollar. The amount alike bankrupt the $0.2000 support, which afire added declines. However, the abatement was adequate by the $0.1850 support, which captivated the downside. There were able bids about $0.1850, which afire an upside move aloft $0.1900.
Buyers were able to move the amount aloft the 23.6% Fib retracement akin of the aftermost abatement from the $0.2250 aerial to $0.1852 low. The best allotment was a breach aloft yesterday’s accent concise bearish trend band with attrition at $0.1950 on the alternate blueprint of the XRP/USD pair. At the moment, the amount is aloft the $0.2000 handle and the 100 alternate simple affective average. These are positive signs and ability booty the amount appear the $0.2200 level.
An actual attrition is abreast the 50% Fib retracement akin of the aftermost abatement from the $0.2250 aerial to $0.1852 low at $0.2070. A abutting aloft $0.2070 would arresting a nice upside move appear $0.2200. On the downside, the burst attrition at $0.2024 would act as a abutment in the abbreviate term. The best important abutment and buy area is at $0.1850.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is aback in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is extensive the overbought levels.
Major Support Level – $0.2024
Major Resistance Level – $0.2200
Charts address – Trading View, Kraken
