THELOGICALINDIAN - Key Highlights
Ripple amount struggled abreast key attrition levels adjoin the US Dollar and Bitcoin. XRP/USD charge achieve aloft the $0.4750 barrier for added upsides appear $0.5000.
Ripple Price Resistance
This accomplished week, Ripple amount traded appear the $0.4200 abutment area adjoin the US Dollar. The XRP/USD brace traded as low as $0.4248 afore buyers appeared. A beginning advancement beachcomber was accomplished and the amount confused aloft the $0.4500 and $0.4600 attrition levels. The amount traded as aerial as $0.4817, but buyers abort to accumulate the amount aloft the $0.4750 resistance.
XRP amount beneath and bankrupt the 23.6% Fib retracement akin of the beachcomber from the $0.4248 low to $0.4817 high. However, the abatement was adequate by the $0.4500-20 abutment area. More importantly, there was no abutting beneath the 50% Fib retracement akin of the beachcomber from the $0.4248 low to $0.4817 high. At the moment, it seems like there is a concise crumbling approach in abode with attrition at $0.4650 on the alternate blueprint of the XRP/USD pair. The brace is attempting an upside break aloft the $0.4620-50 attrition zone. Aloft this, the amount charge bright the all-important $0.4750 barrier.
Looking at the chart, the amount is trading accurately in a bullish area aloft $0.4500. Having said that, XRP charge achieve aloft $0.4750 to authority gains. If not, there is a accident of a downside acknowledgment beneath the $0.4500 abutment akin in the abreast term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is mostly collapsed in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is abiding about the 55 level.
Major Support Level – $0.4500
Major Resistance Level – $0.4750
