THELOGICALINDIAN - Key Highlights
Ripple amount fabricated a bearish about-face adjoin the US Dollar and Bitcoin. XRP/USD may actual lower appear the $0.6600 abutment in the abreast term.
Ripple Price Resistance
There was no upside break aloft the $0.7100 akin in Ripple amount adjoin the US Dollar. The amount traded as aerial as $0.7060 afore sellers appeared and pushed the amount lower. A beginning bearish beachcomber was accomplished and the amount beneath beneath the $0.7000 support. The abatement was such that the amount additionally acclimatized beneath the 0.6800 abutment akin and the 100 alternate simple affective average.
More importantly, yesterday’s accent acute ascendance approach with abutment at $0.6860 was burst on the alternate blueprint of the XRP/USD pair. The brace additionally bankrupt the 50% Fib retracement akin of the aftermost beachcomber from the $0.6478 low to $0.7067 high. It has opened the doors for added losses and the amount could abatement added appear the $0.6600 support. An actual abutment sits about the 76.4% Fib retracement akin of the aftermost beachcomber from the $0.6478 low to $0.7067 high.
Looking at the chart, the amount is currently in a bearish area beneath $0.6800. Should there be an upside correction, the amount could face sellers abreast $0.6800 and the 100 alternate SMA. On the downside, buyers can accumulate an eye on the $0.6600 abutment level. Beneath $0.6600, the aftermost beat low of $0.6478 may be retested.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is hardly placed in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is crumbling and is currently able-bodied beneath the 40 level.
Major Support Level – $0.6600
Major Resistance Level – $0.6800
