THELOGICALINDIAN - Key Highlights
Ripple amount is in a bearish area adjoin the US Dollar and Bitcoin. XRP/USD adapted hardly higher, but it struggled to bright a above hurdle at $0.7500.
Ripple Price Trend
This accomplished week, there was a major downside move from able-bodied aloft $0.8000 in Ripple amount adjoin the US Dollar. The amount alike bankrupt the $0.7500 and $0.7000 abutment levels and traded abutting to $0.6300. A low was formed at $0.6307 from area the amount started an upside correction. It recovered aloft the $0.7000 akin and acquired upside momentum.
However, the amount faced a strong resistance area abreast $0.7400 and $0.7500. The upside move was adequate by $0.7450, 100 alternate simple affective average, and a bearish trend band with accepted attrition at $0.7300. At the moment, the amount is bottomward and bankrupt the 23.6% Fib retracement akin of the aftermost beachcomber from the $0.6307 low to $0.7475 high. More importantly, the XRP/USD brace is currently attempting a abutting beneath an ascendance approach with abutment at $0.7000 on the alternate chart.
Looking at the chart, the amount is disturbing to authority assets aloft $0.7000. It may abatement added and analysis the 50% Fib retracement akin of the aftermost beachcomber from the $0.6307 low to $0.7475 aerial at $0.6900. Below $0.6900, it may retest the $0.6500 support. On the upside, a able breach aloft 100 alternate SMA and $0.7500 is appropriate for an upside acceleration.
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 is now beneath the 50 level.
Major Support Level – $0.6900
Major Resistance Level – $0.7500
