THELOGICALINDIAN - Key Highlights
Ripple amount did not move abundant adjoin the US Dollar and Bitcoin. However, eventually or later, XRP/USD has to breach either $0.2050 or $0.2024.
Ripple Price Consolidation
During the accomplished two days, there was not abundant action in Ripple amount aloft $0.1950 adjoin the US Dollar. The amount continues to barter in a tiny ambit with attrition abutting to the $0.2050 level. Yesterday, there was an attack to breach the $0.2050 resistance, but buyers bootless to accretion momentum. There was a abortion abreast the 38.2% Fib retracement akin of the aftermost move bottomward from the $0.2160 aerial to $0.1965 low.
The best important point is the actuality that this week’s accent above approach with accepted abutment at $0.1950 is placed able-bodied on the alternate blueprint of the XRP/USD pair. The brace is currently beneath $0.2020 and the 100 alternate simple affective average. Therefore, there are affairs of more declines against the approach abutment at $0.1950 in the abreast term. A abutting beneath $0.1950 would be a able advertise arresting and the amount could alike barter appear $0.1900.
On the upside, an antecedent attrition is abutting to the 100 alternate SMA at $0.2024. However, the best important hurdle is abreast the approach attrition at $0.2050. Only a abutting aloft $0.2050 would accessible the doors for added upsides against $0.2160.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is hardly placed in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently able-bodied beneath the 50 level.
Major Support Level – $0.2024
Major Resistance Level – $0.2050
Charts address – Trading View, Kraken
