THELOGICALINDIAN - Key Highlights
Ripple amount beneath heavily adjoin the US Dollar and Bitcoin. XRP/USD is currently trading able-bodied beneath the $0.8000 akin and is in a bearish zone.
Ripple Price Resistance
Yesterday, we discussed about a major hurdle abreast $0.8100 in Ripple amount adjoin the US Dollar. The amount bootless to breach the $0.8100 attrition acclimatized beneath the $0.8000 level. It beneath acutely and confused beneath the $0.7800 and $0.7500 abutment levels. There was a lot of access in affairs pressure, consistent in a abutting beneath the $0.7800 abutment and the 100 alternate simple affective average.
A low was formed at $0.7234 afore buyers appeared. At the moment, the amount is convalescent and is trading abreast the $0.7450-0.7500 resistance. Moreover, the 23.6% Fib retracement akin of the aftermost abatement from the $0.8165 aerial to $0.7234 low is additionally abreast $0.7450. Above the mentioned level, the next resistance is at $0.7600, which was a abutment earlier. Additionally, there is a new abutting bearish trend band basic with attrition at $0.7800 on the alternate blueprint of the XRP/USD pair.
Looking at the chart, the amount may actual a few credibility appear $0.7600 and $0.7800. However, a able breach aloft $0.7800 and the 61.8% Fib retracement akin of the aftermost abatement from the $0.8165 aerial to $0.7234 low is bare for added gains. On the downside, if the amount break the $0.7234 low, it could analysis $0.7000.
Looking at the abstruse indicators:
Hourly MACD – The MACD for XRP/USD is placed heavily in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is in the oversold levels.
Major Support Level – $0.7250
Major Resistance Level – $0.7800
