THELOGICALINDIAN - Key Highlights
Ripple amount faced an added affairs burden adjoin the US Dollar and Bitcoin. XRP/USD is affective higher, but the antecedent abutment at $0.3400 could act as a resistance.
Ripple Price Resistance
Yesterday, a concise downside correction was accomplished from the $0.3580 aerial in Ripple amount adjoin the US Dollar. The XRP/USD brace beneath and bankrupt the $0.3500 and $0.3450 levels. Later, sellers acquired absorption and the amount beneath beneath the $0.3400 abutment and the 100 alternate simple affective average. The amount additionally bankrupt the 61.8% Fib retracement akin of the aftermost leg from the $0.3190 beat low to $0.3579 high.
More importantly, yesterday’s accent key bullish trend band was burst with abutment at $0.3405 on the alternate blueprint of the XRP/USD pair. The brace traded appear the $0.3200 abutment and accustomed an intraday low at $0.3230. Later, the amount adapted college aloft the $0.3300 level. It additionally bankrupt the 23.6% Fib retracement akin of the aftermost accelerate from the $0.3579 aerial to $0.3230 low. It seems like the price may boring ascend higher appear the $0.3400 attrition and the 100 alternate SMA. However, it won’t be accessible for buyers to bright $0.3400 and the 50% Fib retracement akin of the aftermost accelerate from the $0.3579 aerial to $0.3230 low.
Looking at the chart, ripple amount is afterward an ascendance approach and it could acceleration appear $0.3400. If it fails to breach $0.3400, it could abatement aback appear the $0.3200 abutment in the abreast term. Conversely, aloft $0.3400 the amount may ascend aback aloft $0.3500.
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 currently beneath the 50 level.
Major Support Level – $0.3200
Major Resistance Level – $0.3400
