THELOGICALINDIAN - Key Highlights
Ripple amount recovered able-bodied intraday adjoin the US Dollar and Bitcoin. XRP/USD is aback aloft $0.2024, but disturbing to authority gains.
Ripple Price Support
Yesterday, we saw the alpha of a new downside move with a breach of the $0.1950 abutment in Ripple amount adjoin the US Dollar. The amount continued declines and traded appear the $0.1800 level. A low was formed at $0.1800 afore the amount started an upside move and bounced sharply. During the bounce, there was a breach aloft a bearish trend band at $0.1940 on the alternate blueprint of the XRP/USD pair.
More importantly, the brace was able to move aloft the $0.2024 akin and the 100 alternate simple affective average. The upside move was able as there was a breach aloft the $0.2100 resistance. A aerial was formed at $0.2199 from breadth the amount started a aciculate downside correction. It has already breached the 50% Fib retracement akin of the aftermost beachcomber from the $0.1800 low to $0.2199 high. However, it is abutting a above abutment breadth abreast $0.2024 and the 100 alternate SMA.
There is additionally a bullish trend band at $0.1960 and the 61.8% Fib retracement akin of the aftermost beachcomber from the $0.1800 low to $0.2199 aerial at $0.1954. Therefore, already afresh the $0.1950-0.1960 levels would act as a able support. The amount charge break aloft $0.1950 to animation aback or it ability afresh analysis the $0.1850-00 levels.
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 placed able-bodied aloft the 50 level.
Major Support Level – $0.2024
Major Resistance Level – $0.2100
Charts address – Trading View, Kraken
