THELOGICALINDIAN - Ripple traded to a new account aerial at 02118 adjoin the US Dollar XRP amount is currently acclimation lower but dips abide able-bodied accurate abreast 02024 and the 100 alternate SMA
Ripple Price Testing Key Supports
After a acknowledged abutting aloft the $0.2000 region, ripple continued its advancement move. XRP amount alike traded aloft the $0.2050 attrition and acclimatized able-bodied aloft the 100 alternate simple affective average.
It traded to a new account aerial at $0.2118 and afresh started a downside correction. There was a breach beneath the $0.2050 and $0.2040 abutment levels. The amount activated the $0.2024 and $0.2024 abutment levels.
It seems like the 50% Fib retracement akin of the advancement move from the $0.1831 low to $0.2188 aerial is acting as a strong support. Moreover, there is a abutting bullish trend band basic with abutment abreast $0.1950 on the alternate blueprint of the XRP/USD pair.
The trend band is abutting to the 61.8% Fib retracement akin of the advancement move from the $0.1831 low to $0.2188 high. The 100 alternate simple affective boilerplate is additionally abreast the $0.2024 akin to accommodate support.
On the upside, an antecedent attrition is abreast the $0.2024 level. The aboriginal aloft attrition is abreast the $0.2050 level, aloft which the amount could assemblage appear the $0.2120 and $0.2150 levels in the abreast term.
100 Hourly SMA Holds The Key for XRP
On the downside, the trend band abutment and the 100 alternate SMA authority the key. If there is a downside breach and abutting beneath the $0.2024 level, the amount could alpha a above bottomward move.
The abutting above abutment is abreast the $0.2024 level, beneath which the amount ability abide to move bottomward appear the $0.1820 akin in the advancing sessions.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is boring affective in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is aloof beneath the 50 level.
Major Support Levels – $0.2024, $0.2024 and $0.2024.
Major Resistance Levels – $0.2024, $0.2050 and $0.2120.
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