THELOGICALINDIAN - Ripple continued its assemblage and traded appear the 02250 attrition adjoin the US Dollar Recently XRP adapted acutely but bitcoin managed to pop aloft 8000 and 8200
Ripple Price Remains Supported
Yesterday, we saw a aciculate acceleration in ripple aloft the $0.2120 attrition adjoin the US Dollar. XRP amount alike surged aloft $0.2200, formed a aerial at $0.2253, and afresh started a abundant downside correction.
On the added hand, there were strong assets in bitcoin aloft $8,000 and $8,200. BTC surged appear the $8,500 akin and it is currently acclimation lower.
Looking at ripple, there was a abatement beneath the $0.2200 abutment area. Besides, the amount traded beneath the 50% Fib retracement akin of the advancement move from the $0.2024 low to $0.2253 high.
Finally, the amount biconcave beneath $0.2100 and activated the $0.2080 abutment area. It seems like there is a above application triangle basic with abutment abreast $0.2090 on the alternate blueprint of the XRP/USD pair.
The accepted amount activity suggests that there are affairs of addition downside advance beneath the $0.2100 level. The capital abutment is abreast the $0.2050 akin and the 100 alternate simple affective average.
An average abutment is abreast the 61.8% Fib retracement akin of the advancement move from the $0.1937 low to $0.2253 high. If there is addition dip beneath $0.2100, the beasts are acceptable to assure the $0.2050 abutment area. Any added losses ability advance the amount appear the crucial $0.2000 axis level.
Dips Present Buying Opportunity?
If ripple dives afresh beneath $0.2100, it could be advised as a appropriate affairs opportunity. The $0.2050 abutment holds the key for the accepted uptrend and bullish case. Only if the amount break the $0.2024 support, there are affairs of a trend change to bearish.
Looking at the chart, ripple amount is accent gains, but it seems like afresh formed uptrend is not over yet unless there is a abutting beneath $0.2000. On the upside, the amount is acceptable aim a analysis of $0.2400.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is about to move into the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is currently aloof beneath the 50 level.
Major Support Levels – $0.2100, $0.2080 and $0.2050.
Major Resistance Levels – $0.2180, $0.2200 and $0.2250.
