THELOGICALINDIAN - Key Highlights
Ripple amount was not able to balance bygone adjoin the US Dollar and Bitcoin. XRP/USD comatose and about activated the $0.50 abutment zone.
Ripple Price Upside Hurdle
There was no aloft upside move aloft the $0.5600 akin in Ripple amount adjoin the US Dollar. The amount bootless to balance and faced sellers about $0.5600. As a result, there was a downside move and the amount traded beneath the $0.5500 and $0.5200 abutment levels. It about traded abutting to the $0.5000 akin and formed a low about the $0.5035 level.
A low was formed and the amount started an upside alteration aloft the $0.5100 level. It activated the 23.6% Fib retracement akin of the aftermost bead from the $0.5990 beat aerial to $0.5035 low. However, the accepted upside move is adequate by the $0.5300 resistance. There is additionally a major bearish trend line basic with attrition abreast $0.5300 on the alternate blueprint of the XRP/USD pair. The brace may acceleration in the abreast appellation aloft $0.5300, but it could face added hurdles. The 50% Fib retracement akin of the aftermost bead from the $0.5990 beat aerial to $0.5035 low is sitting about the $0.5500 akin to act as a hurdle for buyers.
Looking at the chart, the amount may attempt to move aloft the $0.5500 level, which could aftereffect in a downside push. In the mentioned scenario, there is a accident of a bearish breach beneath the $0.5000 level.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is hardly in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is still beneath the 50 level.
Major Support Level – $0.5000
Major Resistance Level – $0.5500
