THELOGICALINDIAN - Key Highlights
Ripple amount is aback in a absolute area adjoin the US Dollar and Bitcoin. XRP/USD is acceptable to advance assets aloft the $0.6800 attrition in the abreast term.
Ripple Price Trend
Yesterday, we discussed about a major blemish pattern in Ripple amount with attrition abreast $0.6550 adjoin the US Dollar. The amount formed a abutment abject abreast $0.6350 and started an upside move. It bankrupt to the upside and austere the $0.6550 attrition to move aback in a bullish zone. There was additionally a abutting aloft the $0.6600 attrition and the 100 alternate simple affective average.
During the upside, the amount austere the 50% Fib retracement akin of the aftermost abatement from the $0.7031 aerial to $0.6340 low. Moreover, yesterday’s accent key bearish trend band with attrition at $0.6550 was breached on the alternate blueprint of the XRP/USD pair. The brace traded abutting to the $0.6900 akin and is currently accumulation gains. On the upside, a abutting aloft the 61.8% Fib retracement akin of the aftermost abatement from the $0.7031 aerial to $0.6340 low abreast $0.6800 may accessible the doors for more gains in the abreast term.
Looking at the chart, the accepted amount activity is actual absolute aloft $0.6550. If the amount accelerates assets aloft $0.6800, it could move aback appear the $0.7700 level. On the downside, supports are at $0.6550 and $0.6550, followed by the aftermost low abreast $0.6350.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is aback in a absolute zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently placed accurately aloft the 55 level.
Major Support Level – $0.6550
Major Resistance Level – $0.6800
