THELOGICALINDIAN - Key Highlights
Ripple amount is acutely in a declivity adjoin the US Dollar and Bitcoin. XRP/USD could actual higher, but it is adverse a above attrition abreast $0.2750.
Ripple Price Resistance
There was no aloft recovery acclaimed aloft the $0.2800 akin in Ripple amount afresh adjoin the US Dollar. The XRP/USD brace remained in a bearish area and it continued losses beneath the $0.2600 and $0.2500 levels. A new account low was formed abreast the $0.2492 akin afore there was an upside correction. The amount confused aloft the 23.6% fib retracement akin of the aftermost accelerate from the $0.2890 beat aerial to $0.2490 beat low.
However, the amount bootless to move aloft the $0.2650 resistance, which was a abutment earlier. Besides, there was no analysis of the 50% fib retracement akin of the aftermost accelerate from the $0.2890 beat aerial to $0.2490 beat low. More importantly, there are two bearish trend curve in abode with attrition at $0.2650 and $0.2750 on the alternate blueprint of the XRP/USD pair. Therefore, if the amount continues to move higher, it could face a strong resistance abreast the $0.2750 attrition and the 100 alternate simple affective average.
Looking at the chart, ripple amount charcoal in a declivity beneath $0.2750. On the downside, a breach beneath the $0.2450 abutment could activate abundant declines. The abutting targets for sellers could be abreast the $0.2400 abutment in the abbreviate term.
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 currently abreast the 50 level.
Major Support Level – $0.2500
Major Resistance Level – $0.2750
