THELOGICALINDIAN - Key Highlights
Ripple amount remained in a bearish area adjoin the US Dollar and Bitcoin. XRP/USD traded appear $0.5750 afore starting an upside alteration appear $0.6200.
Ripple Price Resistance
After a accessory upside correction, Ripple amount faced sellers abreast $0.6300-0.6400 adjoin the US Dollar. The amount started a downside move and beneath beneath the $0.6200 and $0.6000 abutment levels. The abatement was acute back the amount traded abutting to the $0.5750 level. A low was formed abreast at $0.5758 afore the amount started an upside correction.
It is currently acclimation college appear the $0.6200 level, which was a abutment earlier. It has confused aloft the 23.6% Fib retracement akin of the aftermost bead from the $0.6702 aerial to $0.5758 low. However, there are abounding barriers on the upside abreast $0.6200 and $0.6300. More importantly, yesterday’s accent important bearish trend band with accepted attrition at $0.6300 is complete on the alternate blueprint of the XRP/USD pair. The 50% Fib retracement akin of the last drop from the $0.6702 aerial to $0.5758 low is additionally positioned abreast $0.6230. Therefore, if the amount moves college aloft $0.6100, it is acceptable to face a able attrition abreast $0.6200.
Looking at the chart, the charcoal in a bearish area beneath $0.6500. On the downside, the $0.5750 is a able support. A breach beneath $0.5750 may accessible the doors for added declines appear the $0.5200 akin in the abreast term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD has confused aback in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently affective college appear the 50 level.
Major Support Level – $0.5750
Major Resistance Level – $0.6200
