THELOGICALINDIAN - Key Highlights
Ripple amount is affective college with a absolute bent adjoin the US Dollar and Bitcoin. XRP/USD is now placed accurately aloft the attrition angry abutment at $0.5175.
Ripple Price Trend
There were more gains empiric aloft the $0.5000 akin in Ripple amount adjoin the US Dollar. The amount fabricated a nice upside move and succeeded in breaking a aloft hurdle abreast the $0.5175 level. It alike traded aloft the $0.5200 akin and activated the $0.5500 attrition zone. At the moment, the amount is placed accurately aloft the $0.5000 akin and the 100 alternate simple affective average.
The contempo aerial was formed at $0.5537 afore the amount started a downside correction. It beneath beneath the 23.6% Fib retracement akin of the aftermost leg up from the $0.4813 low to $0.5537 high. However, there are abounding supports on the downside about the $0.5200 level. There is additionally a new bullish trend line basic with abutment abreast the $0.5180 akin on the alternate blueprint of the XRP/USD pair. The aforementioned trend band is abutting to the 50% Fib retracement akin of the aftermost leg up from the $0.4813 low to $0.5537 high.
More importantly, the antecedent attrition at $0.5175 may now act as a support. On the upside, the amount has to move aloft the $0.5500 akin to accretion added bullish drive in the abreast term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is aback in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD confused bottomward and is currently beneath the 50 level.
Major Support Level – $0.5175
Major Resistance Level – $0.5500
Charts address – Trading View
