THELOGICALINDIAN - Key Highlights
Ripple amount is placed accurately in an uptrend adjoin the US Dollar and Bitcoin. XRP/USD afresh traded abutting to $0.4000 afore a downside alteration to the $0.3400 support.
Yesterday, we discussed the chances of added gains appear $0.3850 or $0.4000 in ripple amount adjoin the US Dollar. The XRP/USD brace did barter college and bankrupt the $0.3850 attrition area. It traded abutting to the $0.4000 akin and formed a new account aerial at $0.3947. Later, the amount started a downside alteration and traded beneath $0.3900 and $0.3800. There was a breach beneath the 50% Fib retracement akin of the aftermost beachcomber from the $0.3141 low to $0.3947 high.
However, the abatement was adequate by the $0.3440 zone, which was a aloft attrition earlier. More importantly, there is a aloft bullish trend band in abode with abutment at $0.3450 on the alternate blueprint of the XRP/USD pair. Besides, the 61.8% Fib retracement akin of the aftermost beachcomber from the $0.3141 low to $0.3947 aerial acted as a support. At the outset, it seems like the amount is trading accurately aloft the trend band and the $0.3440 support.
Looking at the chart, ripple amount could resume its advancement move appear $0.3700 or $0.3800. Aloft $0.3800, it could revisit $0.4000. However, it charge break aloft the $0.3400 support. If not, there is a accident of added losses appear the $0.3180 akin and the 100 alternate simple affective average.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is boring abbreviation its bearish slope.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently collapsed abreast the 50 level.
Major Support Level – $0.3400
Major Resistance Level – $0.3800
