THELOGICALINDIAN - Key Highlights
Ripple amount started a downside alteration adjoin the US Dollar and Bitcoin. XRP/USD is now trading aloft a above abutment of $0.2350.
Ripple Price Downsides Limited
There was a minor decline in Ripple amount from the $0.2803 beat aerial adjoin the US Dollar. The amount confused beneath the $0.2650 abutment and the 23.6% Fib retracement akin of the aftermost beachcomber from the $0.1980 low to $0.2803 high. It opened the doors for an continued alteration and the amount confused beneath $0.2550. During the downside move, there was a breach beneath yesterday’s accent acute bullish trend band with abutment at $0.2500 on the alternate blueprint of the XRP/USD pair.
The amount confused beneath the $0.2500 abutment and the 100 alternate simple affective average. However, the 50% Fib retracement akin of the aftermost beachcomber from the $0.1980 low to $0.2803 aerial is captivation losses. There is a bright above abutment basic abreast $0.2400-0.2350, which charge authority added losses. There is a adventitious of a dip appear $0.2350-30 to ample buy orders afore the price recovers.
The 61.8% Fib retracement akin of the aftermost beachcomber from the $0.2025 low to $0.2803 aerial is additionally abreast $0.2297 to anticipate declines. On the upside, the amount needs to move aback aloft the $0.2550 attrition to accretion momentum.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is now placed able-bodied into the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently abreast the oversold levels.
Major Support Level – $0.2350
Major Resistance Level – $0.2550
Charts address – Trading View, Kraken
