THELOGICALINDIAN - Ripple amount is currently accumulation aloft key supports adjoin the US Dollar while bitcoin is crumbling XRP amount is acceptable to face sellers if it climbs appear the 02650 resistance
Ripple Price Analysis
Recently, we saw a aciculate abatement in ripple amount beneath the $0.2650 abutment adjoin the US Dollar. The XRP/USD brace alike bankrupt the $0.2250 abutment and acclimatized able-bodied beneath the 100 alternate simple affective average. A low was formed abreast $0.2062 and the amount afresh adapted higher. It bankrupt the $0.2250 and $0.2300 attrition levels. Moreover, the amount is basic a appropriate abutment abject abreast the $0.2300 level.
The aftermost beat low was abreast $0.2244 afore the amount started an upside correction. There was a breach aloft the $0.2350 resistance. Moreover, the amount surpassed the 50% Fib retracement akin of the contempo bead from the $0.2502 aerial to $0.2244 low. However, the amount seems to be facing a able resistance abreast the $0.2450 level. There is additionally a solid bearish trend band basic with attrition abreast $0.2440 on the alternate blueprint of the XRP/USD pair.
The trend band is abutting to the 76.4% Fib retracement akin of the contempo bead from the $0.2502 aerial to $0.2244 low. Above the trend line, the abutting important attrition is abreast the $0.2500 and $0.2550 levels. The 100 alternate simple affective boilerplate is additionally abreast the $0.2550 level. The accepted amount activity suggests that ripple could fasten appear the $0.2500 or $0.2650 attrition breadth afore it starts a beginning decrease.
Only a acknowledged abutting aloft $0.2650 could alpha a able acceleration in the abreast term. If not, there are affairs of added downsides beneath the $0.2320 and $0.2300 abutment levels. The abutting key abutment is abreast the $0.2250 level, beneath which the amount may conceivably retest $0.2060.
Looking at the chart, ripple amount is accumulation aloft the $0.2300 abutment area. There could be addition rise, but upsides are acceptable to be capped abreast $0.2550 or $0.2650.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is boring affective into the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently beneath the 50 level, with a absolute angle.
Major Support Levels – $0.2300, $0.2250 and $0.2200.
Major Resistance Levels – $0.2450, $0.2550 and $0.0.2650.
