THELOGICALINDIAN - Ripple is ascent steadily from the 01680 abutment breadth adjoin the US Dollar XRP amount is acceptable to assemblage 34 agnate to the contempo move in bitcoin and Ethereum
Ripple Price Could Rally Soon
Recently, there was a able advancement move in bitcoin and Ethereum, but ripple bootless to chase in a agnate fashion. XRP amount traded as low as $0.1680 and climbed aback aloft the 100 alternate simple affective average.
There was a abiding acceleration aloft the $0.1720 attrition level. The beasts were able to beat the 50% Fib retracement akin of the contempo abatement from the $0.1784 aerial to $0.1680 low.
However, the amount is still able-bodied beneath the $0.1780 account attrition area. There is additionally a key bearish trend band basic with attrition abreast $0.1760 on the alternate chart of the XRP/USD pair.
Ripple is currently testing the trend band attrition at $0.1760. The 76.4% Fib retracement akin of the contempo abatement from the $0.1784 aerial to $0.1680 low is additionally acting as a hurdle.
If there is a bright breach aloft the trend band resistance, the beasts are acceptable to accomplish addition attack to bright the $0.1780 attrition area. If they succeed, XRP amount is acceptable to billow aloft the $0.1880 and $0.2024 levels. The abutting above attrition is abreast the $0.2024 level.
Downside Correction?
If ripple fails afresh to ascend aloft the $0.1780 resistance, it could actual lower. An antecedent abutment on the downside is abreast the $0.1720 akin and the 100 alternate simple affective average.
A bearish breach beneath the $0.1720 abutment and the 100 alternate SMA may conceivably advance the amount beneath $0.1700. The abutting above abutment is abreast the $0.1680 level, beneath which the bears are acceptable to aim a analysis of the $0.1620 abutment breadth in the abreast term.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is boring accepting drive in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is ascent appear the 60 level.
Major Support Levels – $0.1720, $0.1700 and $0.1620.
Major Resistance Levels – $0.1760, $0.1780 and $0.1880.
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