THELOGICALINDIAN - Key Highlights
Ripple amount fabricated a downside move afresh adjoin the US Dollar and Bitcoin. XRP/USD charge break aloft the $1.0000 abutment breadth to abstain added declines.
Ripple Price Resistance
There was a abundant recovery aloft $1.10 this accomplished anniversary in Ripple amount adjoin the US Dollar. The amount traded aloft the $1.12 and $1.14 level, but it could not breach the $1.15 resistance. It formed a aerial at $1.1508 and after started a downside move. It beneath and bankrupt the $1.10 abutment breadth to achieve beneath the 100 alternate simple affective average.
During the downside, there was a breach beneath a abutting bullish trend band with abutment at $1.0800 on the alternate blueprint of the XRP/USD pair. However, the downside move was adequate by the $1.0000 support. A low was formed at $1.0055 afore the amount started an upside correction. It traded aloft the 23.6% Fib retracement akin of the aftermost abatement from the 1.1508 aerial to $1.0055 low. However, the upside move was adequate by the $1.06 akin and the 100 alternate SMA. On the upside, there is a bearish trend band with attrition at $1.0700 on the aforementioned chart.
Therefore, an upside move aloft $1.06 and $1.07 won’t be easy. On the downside, the brace charge authority the $1.00 abutment akin to abstain added declines. Below $1.00, the amount may abatement appear $0.8500 in the abreast term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is currently in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently able-bodied beneath the 50 level.
Major Support Level – $1.0000
Major Resistance Level – $1.0700
Charts address – SimpleFX
