THELOGICALINDIAN - Key Highlights
Ripple amount is positioned accurately in a bullish area adjoin the US Dollar and Bitcoin. XRP/USD dips abide accurate about the $0.3320 and $0.3300 levels in the abreast term.
Ripple Price Trend
Yesterday, we discussed that Ripple amount could analysis the $0.3400 resistance adjoin the US Dollar. The XRP/USD brace did barter higher, bankrupt the $0.3300 attrition level, and activated the $0.3400 level. There was a abutting aloft the $0.3300 abutment and the 100 alternate simple affective average. The amount traded as aerial as $0.3436 and after it started a downside correction.
It is currently trading abreast the 23.6% Fib retracement akin of the contempo upside from the $0.3191 low to $0.3436 high. On the downside, there are abounding abutment levels abreast $0.3300 and $0.3320. The declared $0.3320 akin was a attrition earlier, and it could now act as a support aloft $0.3300. Moreover, the 50% Fib retracement akin of the contempo upside from the $0.3191 low to $0.3436 aerial is at $0.3313. Further below, there is a abutting bullish trend band formed with abutment at $0.3260 on the alternate blueprint of the XRP/USD pair. Therefore, if the amount continues to move down, it is acceptable to acquisition able bids abreast $0.3300.
Looking at the chart, ripple amount has confused into a absolute area aloft $0.3300. On the upside, a abutting aloft the $0.3400 and $0.3450 levels may able-bodied bright the aisle for a advance aloft $0.3500.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is accurately placed in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is affective lower from 75 to 60.
Major Support Level – $0.3300
Major Resistance Level – $0.3450
