THELOGICALINDIAN - Key Highlights
Ripple amount started a downside alteration adjoin the US Dollar and Bitcoin. XRP/USD may abide to actual lower appear the $0.3300 abutment in the abreast term.
After basic a high abreast the $0.4000 level, ripple amount started a downside move adjoin the US Dollar. The XRP/USD brace traded beneath the $0.3800 and $0.3750 abutment levels to access a abbreviate appellation bearish zone. Later, the brace alike bankrupt the $0.3650 abutment and the 100 alternate simple affective average. The abatement was such that the amount bankrupt the 61.8% Fib retracement akin of the aftermost beachcomber from the $0.3304 low to $0.40005 high.
More importantly, there was a breach beneath a above abutting bullish trend band with abutment at $0.3610 on the alternate blueprint of the XRP/USD pair. The brace is currently trading with a bearish bend beneath $0.3650 and the 100 alternate SMA. An actual abutment is abreast $0.3460 and the 76.4% Fib retracement akin of the aftermost beachcomber from the $0.3304 low to $0.40005 high. Beneath $0.3460, the amount is acceptable to analysis the $0.3380 abutment area. Finally, the main support is abreast the aftermost beat low at $0.3300.
Looking at the chart, ripple amount is adverse a solid attrition abreast the $0.3650 akin and the 100 alternate SMA. Therefore, to move into a absolute zone, a abutting aloft $0.3650 and $0.3700 is required.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is now placed heavily in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now able-bodied beneath the 40 level.
Major Support Level – $0.3380
Major Resistance Level – $0.3700
