THELOGICALINDIAN - Key Highlights
Ripple amount is currently trading in a ambit adjoin the US Dollar and Bitcoin. XRP/USD charge breach the $0.5200-0.5250 attrition to move into a bullish zone.
Yesterday, we discussed that ripple amount could balance appear the $0.5200 level adjoin the US Dollar. The XRP/USD brace did move college and austere the $0.5100 and $0.5180 attrition levels. The advancement move was absolute as the amount alike surpassed the $0.5200 akin and acclimatized aloft the 100 alternate simple affective average. However, the amount bootless abreast $0.5250 and the 50% Fib retracement akin of the aftermost bead from the $0.5610 beat aerial to $0.4860 beat low.
The amount topped at $0.5253 and after started a downside correction. It confused beneath $0.5150 and the 23.6% Fib retracement akin of the contempo beachcomber from the $0.4872 low to $0.5253 high. The accepted amount activity is absolute aloft the $0.5000 abutment area. There is a abbreviate appellation bullish trend band formed with abutment at $0.5050 on the alternate blueprint of the XRP/USD pair. Besides, the 50% Fib retracement akin of the contempo beachcomber from the $0.4872 low to $0.5253 aerial is acting as a support. As continued as the amount is aloft the trend line, $0.5000 and the 100 alternate SMA, it could balance already again.
Looking at the chart, ripple amount is currently accumulation aloft the $0.5000 support. Buyers will best acceptable accomplish addition attack to advance the amount aloft $0.5200 and $0.5250 in the abreast term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is currently in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is aerial abreast the 50 level.
Major Support Level – $0.5000
Major Resistance Level – $0.5250
