THELOGICALINDIAN - Key Highlights
Ripple amount traded aloft key attrition levels adjoin the US Dollar and Bitcoin. XRP/USD is now trading in a bullish area aloft the $0.9400 support.
Ripple Price Trend
After a brief consolidation about the $0.9000 level, Ripple amount formed a abject adjoin the US Dollar. The amount started a nice upside move from the $0.8850 beat low and confused aloft the $0.9200 attrition level. There was additionally a breach aloft the $0.9400 attrition and a abutting aloft the 100 alternate simple affective average. These are absolute signs and the amount traded aloft the $1.000 akin afore starting a downside correction.
More importantly, there was a breach aloft a key bearish trend band with attrition at $0.9300 on the alternate blueprint of the XRP/USD pair. Later, the brace adapted beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $0.8858 low to $1.0318 high. However, the $0.9700 akin is acting as a support. Furthermore, the 50% Fib retracement akin of the aftermost beachcomber from the $0.8858 low to $1.0318 aerial is at $0.9588 to act a support. Therefore, it seems like there are many supports on the downside abreast the $0.9500 and $0.9400 levels.
As continued as the amount is aloft $0.9400, it may abide to move higher. On the upside, resistances are apparent abreast the $1.00 and $1.02 levels, followed by the contempo aerial of $1.031.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is boring abbreviation its bullish slope.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently able-bodied aloft the 50 level.
Major Support Level – $0.9400
Major Resistance Level – $1.0200
Charts address – Trading View
