THELOGICALINDIAN - Key Highlights
Ripple amount confused aback in a bullish area afresh adjoin the US Dollar and Bitcoin. XRP/USD could actual lower but downsides are acceptable to be bound beneath $0.6000.
Ripple Price Support
There was a fresh upside wave accomplished aloft the $0.6000 akin in Ripple amount adjoin the US Dollar. The amount traded college and bankrupt a few important resistances such as $0.6500 and $0.6600. It traded abutting to the $0.7000 akin afore it faced sellers. A aerial was formed at $0.6993 afore the amount started a downside correction. It beneath and traded beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $0.6238 low to $0.6993 high.
Moreover, the XRP/USD brace is currently trading beneath a concise bullish trend band with abutment at $0.6800 on the alternate chart. However, there are abounding supports on the downside about the $0.6200 level. An antecedent abutment is abreast the 50% Fib retracement akin of the aftermost beachcomber from the $0.6238 low to $0.6993 aerial at $0.6610. However, the best important abutment is aloft the $0.6200 akin and the 100 hourly simple affective average. It won’t be accessible for sellers to breach the $0.6200 axis level.
Looking at the chart, the brace may actual added in the abbreviate appellation appear $0.6200 afore it climbs up again. On the upside, the amount is adverse resistances abreast the $0.6800 and $0.7000 levels. Above $0.7000, the amount will best acceptable analysis the $0.7500 level.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is boring affective in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now beneath the 50 level.
Major Support Level – $0.6200
Major Resistance Level – $0.7000
