THELOGICALINDIAN - Key Highlights
Ripple amount is accepting upside drive adjoin the US Dollar and Bitcoin. XRP/USD charcoal buy on dips abreast the $0.6800 and $0.6700 abutment levels.
Ripple Price Supports
A solid support was formed abreast $0.6300 in Ripple amount adjoin the US Dollar. The amount started an upside move and bankrupt abounding hurdles on the way up such as $0.6500 and $0.6800. It alike succeeded in allowance the $0.7000 barrier and traded as aerial as $0.7039. Later, sellers appeared and the amount started a downside alteration beneath the $0.7000 level.
It activated the 38.2% Fib retracement akin of the aftermost beachcomber from the $0.6576 low to $0.7039 high. On the downside, there are abounding supports aloft the $0.6500 level. An antecedent abutment is abreast $0.6800, which was a attrition earlier. Moreover, the 50% Fib retracement akin of the last wave from the $0.6576 low to $0.7039 aerial is positioned abreast $0.6780. More importantly, there is a key bullish trend band basic with abutment at $0.6700 on the alternate blueprint of the XRP/USD pair. As continued as the amount is aloft the trend band abutment at $0.6700, it charcoal buy on dips.
Looking at the chart, the amount may actual a few credibility in the abreast appellation appear $0.6800. However, any aloft abatement beneath the $0.6800 akin could be limited. On the upside, a abutting aloft the $0.7000 barrier may conceivably bright the aisle for a advance appear $0.7200.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is placed accurately in a bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently able-bodied aloft the 60 level.
Major Support Level – $0.6700
Major Resistance Level – $0.7000
