THELOGICALINDIAN - Key Highlights
Ripple amount acquired abundant bullish drive adjoin the US Dollar and Bitcoin. XRP/USD charcoal in an uptrend aloft the $0.2100 abutment area.
Ripple Price Rally
There was a sharp upside move in Ripple amount aloft the $0.2150 akin adjoin the US Dollar. The upside move was able as the amount was able to breach the $0.2400 and $0.2500 attrition levels. It traded abutting to the $0.2700 akin afore it faced solid offers. A aerial was formed abreast $0.2660 and after the amount started a downside correction. The dip was massive and the amount akin best of its assets to barter aback appear $0.2100.
The mentioned $0.2100 abutment breadth acted as a abutment forth with the 100 alternate simple moving average. The amount is now affective aback college and already bankrupt the 23.6% Fib retracement akin of the aftermost abatement from the 0.2660 aerial to $0.2065 low. On the upside, there is a bearish trend band basic with attrition at $0.2350 on the alternate blueprint of the XRP/USD pair. The aforementioned trend band is abreast the 50% Fib retracement akin of the aftermost abatement from the 0.2660 aerial to $0.2065 low.
Therefore, the $0.2350 akin is a appropriate attrition for the abutting move. On the downside, an antecedent abutment is abreast $0.2180. However, the best important abutment is abutting to the $0.2120 akin and the 100 alternate SMA.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is abbreviation its bearish slope.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is still aloft the 50 akin and assuming absolute signs.
Major Support Level – $0.2120
Major Resistance Level – $0.2350
Charts address – Trading View, Kraken
