THELOGICALINDIAN - Key Highlights
Ripple amount is aback with absolute moves adjoin the US Dollar and Bitcoin. XRP/USD is now able-bodied accurate aloft the $0.5300 akin and the 100 alternate SMA.
Ripple Price Trend
There was a key support formed about the $0.5100 akin in Ripple amount adjoin the US Dollar. The amount formed a low at $0.5100 and started a nice upside move. It jumped aloft the $0.5200 attrition and austere a few advertise zones. During the upside move, there was a breach aloft the 38.2% Fib retracement akin of the aftermost abatement from the $0.5650 beat aerial to $0.5100 low.
Moreover, yesterday’s important bearish trend band was burst with attrition abreast $0.5200 on the alternate blueprint of the XRP/USD pair. The brace alike austere the $0.5400 akin and the 100 alternate simple affective average. There was a analysis of the $0.5500 attrition area area sellers appeared. A aerial was formed at $0.5523 afore the amount started a downside correction. At the moment, the amount is testing the 38.2% Fib retracement akin of the aftermost beachcomber from the $0.5100 low to $0.5520 beat high. On the downside, there are many supports abreast the $0.5300 akin and the 100 alternate SMA.
Looking at the chart, the 50% Fib retracement akin of the aftermost beachcomber from the $0.5100 low to $0.5520 beat aerial at $0.5311 is a appropriate support. Therefore, if the amount continues to move down, it is acceptable to acquisition bids abreast the $0.5300 level.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is currently in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is placed able-bodied aloft the 50 level.
Major Support Level – $0.5300
Major Resistance Level – $0.5520
