THELOGICALINDIAN - Ripple is trading accurately aloft the 02024 abutment area adjoin the US Dollar XRP amount is acceptable to alpha a able assemblage agnate to bitcoin if it clears the 02024 resistance
Ripple Price Could Follow Bitcoin
In the accomplished few sessions, ripple’s XRP remained abiding aloft the $0.2024 abutment level. It alike acclimatized aloft the $0.2024 axis akin and the 100 simple affective boilerplate (4-hours).
Recently, there was a fasten aloft the $0.2024 resistance, but the amount bootless to accretion traction. A aerial is formed abreast $0.2024 and the amount is currently accumulation in a tiny range. An antecedent abutment is abreast the $0.2024 akin and the 100 simple affective boilerplate (4-hours).
The 50% Fib retracement akin of the contempo beachcomber from the $0.2024 low to $0.2024 aerial is additionally abreast $0.2024. The abutting above abutment is abreast the $0.2024 level, followed by a abutting bullish trend band at $0.2024 on the 4-hours blueprint of the XRP/USD pair.
The trend band is abutting to the 76.4% Fib retracement akin of the contempo beachcomber from the $0.1916 low to $0.2015 high. More importantly, there is a significant bullish flag basic with attrition abreast $0.1995 on the aforementioned chart.
If there is an upside breach and abutting aloft the $0.2024 level, the amount could abide to rise. The abutting aloft attrition is abreast the $0.2030 level, aloft which the beasts are acceptable to aim a analysis of the $0.2120 resistance.
Dips Likely Supported in XRP
It seems like ripple could chase bitcoin’s contempo upside breach aloft the $9,300 resistance. If it fails to bright the $0.2024 resistance, there ability be a concise downside correction.
On the downside, the aboriginal above abutment is abreast the $0.2024 level, beneath which the amount could revisit the capital $0.2024 abutment akin in the abreast term.
Technical Indicators
4-Hours MACD – The MACD for XRP/USD is disturbing to accretion backbone in the bullish zone.
4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is currently able-bodied aloft the 50 level.
Major Support Levels – $0.2024, $0.2024 and $0.2024.
Major Resistance Levels – $0.2024, $0.2030 and $0.2120.
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