THELOGICALINDIAN - Key Highlights
Ripple amount is assuming a few abrogating signs adjoin the US Dollar and Bitcoin. XRP/USD may actual a few credibility higher, but it could face sellers abreast $0.50 and 100 SMA.
Ripple Price Support
Yesterday, we saw a rise aloft the $0.5200 akin in Ripple amount adjoin the US Dollar. However, the amount bootless to beat the $0.5500 akin and started a downside move. It traded lower and bankrupt a above abutment at $0.5200. There was additionally a breach beneath the 50% Fib retracement akin of the aftermost upside beachcomber from the $0.4815 low to $0.5530 high.
More importantly, there was a breach beneath yesterday’s acicular bullish trend band with abutment at $0.5185 on the alternate blueprint of the XRP/USD pair. The brace alike acclimatized beneath the $0.5000 abutment and the 100 alternate simple affective average. The contempo low was formed at $0.4749 from area the amount may recover. It is currently testing the 23.6% Fib retracement akin of the aftermost abatement from the $0.5530 aerial to $0.4749 low. However, the most important resistance is abreast $0.5000 and the 100 alternate SMA. It additionally coincides with the 38.2% Fib retracement akin of the aftermost bead from the $0.5530 aerial to $0.4749 low.
On the downside, the $0.4700 and $0.4500 levels are important supports. A breach beneath the $0.4500 akin could atom abundant losses in the abreast term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is now in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently abreast the 35 level.
Major Support Level – $0.4700
Major Resistance Level – $0.5000
Charts address – Trading View
