THELOGICALINDIAN - Key Highlights
Ripple amount bankrupt key resistances adjoin the US Dollar and Bitcoin. XRP/USD is now placed in a bullish trend with supports aloft $0.5000.
Ripple Price Trend
There was a sharp upside move in Ripple amount aloft the $0.4500 and $0.4800 resistances adjoin the US Dollar. The XRP/USD brace climbed aloft a acute attrition abreast $0.5000 to move into a bullish zone. Later, buyers were acknowledged in blame the amount aloft the $0.5200 attrition which opened the doors for added gains. XRP amount traded as aerial as $0.5242 afore it started a downside correction.
It is currently testing the 23.6% Fib retracement akin of the aftermost beachcomber from the $0.4689 low to $0.5242 high. It seems like the amount is placed accurately in a bullish trend with abounding supports aloft $0.5000. There is additionally a above bullish trend band in abode with abutment at $0.4920 on the alternate blueprint of the XRP/USD pair. Around the trend band support, the 50% Fib retracement akin of the aftermost beachcomber from the $0.4689 low to $0.5242 aerial is positioned. Therefore, if the amount corrects lower, it is acceptable to acquisition a lot of affairs absorption abreast the $0.5100 and $0.5000 levels.
Looking at the chart, the amount is assuming abounding absolute signs aloft $0.5000. On the upside, a breach aloft the $0.5240-50 attrition area may able-bodied advance XRP appear the $0.5500 akin in the abreast term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is boring abbreviation its bullish slope.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is placed in the overbought area with absolute signs.
Major Support Level – $0.5100
Major Resistance Level – $0.5250
