THELOGICALINDIAN - Key Highlights
Ripple amount bootless to balance essentially adjoin the US Dollar and Bitcoin. XRP/USD is currently abreast $0.7600, which charge authority to abstain added declines.
Ripple Price Resistance
We saw a recovery afresh in Ripple amount from the $0.6041 beat low adjoin the US Dollar. The amount confused aloft the $0.8500 and $0.9000 attrition levels. However, it bootless to move aloft the $0.9500 and $0.9600 attrition levels. As a result, a downside move was accomplished and the amount confused beneath the $0.9000 support. There was a breach beneath the 50% Fib retracement akin of the aftermost beachcomber from the $0.6041 low to $0.9661 high.
More importantly, the upside move was adequate by a aloft bearish trend band with attrition at $0.8000 on the alternate blueprint of the XRP/USD pair. The brace is currently trading abreast the $0.7500 abutment area. Moreover, it is captivation the 61.8% Fib retracement akin of the aftermost beachcomber from the $0.6041 low to $0.9661 high. It charge break aloft the $0.7500 abutment breadth to avoid any added declines. If it fails to break aloft $0.7500, there is a adventitious of XRP sliding aback appear $0.7000.
The abutting above abutment is at 76.4% Fib retracement akin of the aftermost beachcomber from the $0.6041 low to $0.9661 aerial at $0.6895. On the upside, the amount has to breach the $0.8000 and $0.8200 attrition levels to accretion upside momentum.
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 currently able-bodied beneath the 50 level.
Major Support Level – $0.7500
Major Resistance Level – $0.8200
Charts address – SimpleFX
