THELOGICALINDIAN - Key Highlights
Ripple amount climbed college afresh adjoin the US Dollar and Bitcoin. XRP/USD charcoal able-bodied accurate on the downside abreast $0.3600 and it could animation aback in the abbreviate term.
Yesterday, we discussed that ripple amount moved in a absolute zone with a abutting aloft $0.3600 adjoin the US Dollar. The XRP/USD brace acquired bullish drive and traded aloft the $0.3780 and $0.3880 attrition levels. The advancement move was absolute as there was a able abutting aloft the $0.3600 abutment and the 100 alternate simple affective average. The amount activated the $0.4000 attrition and traded as aerial as $0.4016.
Later, the amount started a downside alteration and traded beneath the $0.3900 level. There was a breach beneath the 23.6% Fib retracement akin of the contempo accretion from the $0.3357 low to $0.4016 high. However, there are abounding supports abreast the $0.3680 and $0.3600 levels. Besides, there is a key ascendance approach in abode with abutment at $0.3600 on the alternate blueprint of the XRP/USD pair. The 50% Fib retracement akin of the contempo accretion from the $0.3357 low to $0.4016 aerial is additionally abreast $0.3680. Finally, the 100 alternate SMA is positioned abreast the $0.3600 abutment area.
Looking at the chart, ripple amount is acutely placed in a absolute area aloft the $0.3600 support. As continued as there is no abutting beneath the 100 alternate SMA, the amount may ascend aback aloft $0.3900 and $0.4000.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is boring affective aback in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is aloof abreast the 50 level.
Major Support Level – $0.3600
Major Resistance Level – $0.4000
