THELOGICALINDIAN - Key Highlights
Ripple amount started a nice upside move adjoin the US Dollar and Bitcoin. XRP/USD is now aback aloft $0.6000 and is currently trading with a bullish bias.
Ripple Price Trend
It seems like there was a strong affairs interest about $0.5500 in Ripple amount adjoin the US Dollar. The amount started a solid upside move from the $0.5460 low and confused aloft the $0.5800 attrition level. There was additionally a breach aloft the 50% Fib retracement akin of the aftermost bead from the $0.6105 aerial to $0.5460 low. It opened the doors for added assets and the amount bankrupt a key attrition at $0.6000.
More importantly, this week’s accent important bearish trend band with attrition at $0.6000 was breached on the alternate blueprint of the XRP/USD pair. The brace acclimatized aloft $0.6000 and the 100 alternate simple affective average. It traded as aerial as $0.6265 and is currently trading accurately aloft $0.6100. If the accepted bent charcoal intact, there could be an upside move was aloft the $0.6250 akin in the abreast term. The abutting key resistance for buyers is abreast the $0.6500 level.
Looking at the chart, if the amount corrects lower, the 23.6% Fib retracement akin of the aftermost beachcomber from the $0.5460 low to $0.6265 aerial may act as a support. However, the best important abutment is now at $0.6000 and the 100 alternate SMA.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is boring affective in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now able-bodied aloft the 60 level.
Major Support Level – $0.6000
Major Resistance Level – $0.6250
