THELOGICALINDIAN - Ripple amount is boring convalescent adjoin the US Dollar and Bitcoin However XRPUSD is acceptable to face a lot of hurdles on the upside abreast the 03220 and 03250 levels
Ripple Price Analysis
Yesterday, there was a sharp decline in ripple amount beneath $0.3300 agnate to Ethereum and bitcoin adjoin the US Dollar. The XRP/USD brace alike bankrupt the $0.3200 abutment and acclimatized beneath the 100 alternate simple affective average. It traded abutting to the $0.3100 akin and formed a low at $0.3102. Later, the amount started a abbreviate appellation upside alteration and traded aloft $0.3150 and $0.3160. Buyers pushed the amount aloft the 23.6% Fib retracement akin of the contempo accelerate from the $0.3350 aerial to $0.3100 low.
Moreover, there was a breach aloft a abutting bearish trend band with attrition at $0.3180 on the alternate blueprint of the XRP/USD pair. The brace traded appear the $0.3220 level, which acted as a solid resistance. However, there was no analysis of the 50% Fib retracement akin of the contempo accelerate from the $0.3350 aerial to $0.3100 low. Therefore, there are affairs of added upsides appear the $0.3225 and $0.3250 levels. The price activity is still bearish and it seems like it won’t be accessible for buyers to bright the $0.3220 and $0.3250 resistances.
Looking at the chart, ripple amount is currently afterward an ascendance approach with abutment at $0.3160. There could be a abbreviate appellation fasten appear the approach resistance, $0.3220, and the 100 alternate SMA. A abortion to accretion drive aloft these barriers could aftereffect in a beginning abatement to $0.3100.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is about to move aback in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently abreast the 50 level, with a collapsed bias.
Major Support Level – $0.3160
Major Resistance Level – $0.3220
