THELOGICALINDIAN - Key Highlights
Ripple amount is placed accurately in an uptrend adjoin the US Dollar and Bitcoin. XRP/USD may acquisition buyers already afresh abreast $0.5200 for a beginning advancement move.
After a accessory downside correction, ripple amount traded added higher aloft the $0.5300 akin adjoin the US Dollar. The XRP/USD brace acquired clip and bankrupt the $0.5550 attrition level. The upside move was able as the amount traded as aerial as $0.5626 and it is currently able-bodied aloft 100 alternate simple affective average. Later, the amount adapted lower and confused beneath $0.5600 and $0.5550.
The amount additionally beneath beneath the 23.6% Fib retracement akin of the contempo upside from the $0.4777 low to $0.5626 high. However, there are abounding abutment levels on the downside aloft $0.5200. More importantly, there are two bullish trend curve in abode with abutment at $0.5320 and $0.5200 on the alternate blueprint of the XRP/USD pair. The additional trend band is abreast the 50% Fib retracement akin of the recent upside from the $0.4777 low to $0.5626 high. Therefore, if the amount corrects further, it is acceptable to acquisition buyers abreast the $0.5200 zone.
Looking at the chart, ripple amount is acutely placed in a bullish area aloft $0.5200. On the upside, an antecedent attrition is abreast $0.5450 and a bearish trend band on the aforementioned chart. Aloft the trend line, the amount may conceivably assemblage aloft the $0.5626 high.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is boring affective aback in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently able-bodied aloft the 50 level.
Major Support Level – $0.5200
Major Resistance Level – $0.5450
