THELOGICALINDIAN - Key Highlights
Ripple amount is in a bearish trend adjoin the US Dollar and Bitcoin. XRP/USD is disturbing to authority arena and it could abatement added appear $0.5400.
Ripple Price Bearish Trend
There was no recovery in Ripple amount aloft the $0.6400 and $0.6500 attrition levels adjoin the US Dollar. The amount beneath added and it bankrupt a above abutment at $0.6150. It opened the doors for added losses and the amount beneath beneath the $0.6000 and $0.5800 abutment levels. Clearly, the amount is in a bearish trend and is currently trading able-bodied beneath the $0.6000 akin and the 100 alternate simple affective average.
The contempo low was formed at $0.5595 and it seems like the amount may alike attempt to actual higher. An antecedent attrition is about the 23.6% Fib retracement akin of the aftermost abatement from the $0.6561 aerial to $0.5595 low. There is additionally a concise bearish trend band basic with attrition at $0.5800 on the alternate blueprint of the XRP/USD pair. If buyers accomplish in blame the amount aloft $0.5800, the abutting attrition is at $0.6000. Moreover, the 50% Fib retracement akin of the aftermost abatement from the $0.6561 aerial to $0.5595 low is at $0.6078 to act as the next hurdle.
On the downside, the contempo low of $0.5595 charcoal at a risk. A breach beneath $0.5595 may alarm for added losses beneath $0.5500 in the abreast term.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is placed accurately in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently about the 25 level.
Major Support Level – $0.5500
Major Resistance Level – $0.6000
Charts address – Trading View
