THELOGICALINDIAN - Key Highlights
Ripple amount beneath heavily adjoin the US Dollar and Bitcoin. XRP/USD is currently trading beneath $0.8000 and it may abide to abatement appear $0.7200.
Ripple Price Downtrend
There was no respite aloft $0.8500 in Ripple amount adjoin the US Dollar. The amount connected to barter lower and it bootless to actual aloft a above attrition abreast $0.8600. It fell and bankrupt the $0.8200 and $0.8000 abutment levels to set the clip for added declines. It alike bankrupt the aftermost beat low of $0.7869, which is a bearish assurance and suggests added declines in the abreast term.
At the moment, the amount is trading abreast the 1.236 Fib addendum of the aftermost beachcomber from the $0.7869 low to $0.8778 high. It could abide to abatement and it may alike breach the $0.7500 level. The abutting above abutment on the downside is about $0.7300. The declared akin additionally coincides with the 1.618 Fib addendum of the aftermost beachcomber from the $0.7869 low to $0.8778 high. On the upside, there are abounding resistances about the $0.8000 level. Moreover, yesterday’s accent acute bearish trend line with accepted attrition at $0.0.8000 is complete on the alternate blueprint of the XRP/USD pair.
Overall, it seems like the amount may abide to abatement appear $0.7300. A breach and abutting beneath $0.7300 may alarm for a alarm of $0.7000.
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 affective lower added into the oversold levels.
Major Support Level – $0.7300
Major Resistance Level – $0.8000
Charts address – Trading View
