THELOGICALINDIAN - Ripple amount is disturbing to accretion bullish drive adjoin the US Dollar while BTC and ETH are abandoning XRP amount ability abide to attempt abreast 02024 and 02050
Ripple Price Analysis
The accomplished few hours were significant, as the crypto bazaar saw a changeabout in bitcoin aloft $7,000. It helped Ethereum as able-bodied aloft $125, but ripple amount struggled to accretion backbone adjoin the US Dollar. XRP amount traded to a new 2-year low at $0.1741, acclimatized able-bodied beneath the 100 alternate simple affective average, and it is currently acclimation higher.
Moreover, there was a breach aloft the 23.6% Fib retracement akin of the bottomward move from the $0.2317 aerial to $0.1741 low. However, there are abounding hurdles on the upside abreast $0.2024 and $0.2050.
The amount is acutely disturbing to accretion backbone aloft $0.2024. Besides, yesterday’s accent above bearish trend band is alive with attrition abreast $0.2050 on the alternate blueprint of the XRP/USD pair.
More importantly, the 50% Fib retracement akin of the bottomward move from the $0.2317 aerial to $0.1741 low is additionally abreast the $0.2030 level. Therefore, the amount charge beat the $0.2024 and $0.2050 attrition levels to alpha a able advancement move.
The abutting key attrition is abreast the $0.2100 akin or the 61.8% Fib retracement akin of the bottomward move from the $0.2317 aerial to $0.1741 low. A acknowledged circadian abutting aloft $0.2100 ability alarm for a changeabout in ripple.
Conversely, the amount could alpha a beginning abatement beneath the $0.2024 and $0.1880 levels. The capital abutment breadth is abreast the $0.1800 level. If there is a circadian abutting beneath the $0.1800 abutment area, the amount could abatement heavily appear $0.1720 or $0.1650.
Looking at the chart, ripple amount is boring acclimation higher, but it is acutely adverse a able affairs absorption abreast the $0.2000 and $0.2050 levels. Having said that, if bitcoin and Ethereum continues to rise, there are aerial affairs of a aciculate advancement move in ripple aloft $0.2000.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is currently affective aback into the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is still able-bodied beneath the 50 level.
Major Support Levels – $0.1880, $0.1850 and $0.1800.
Major Resistance Levels – $0.2024, $0.2050 and $0.2100.
