• FxWirePro: xrp/usd daily outlook

    Source: FxWire Pro - Technicals / 20 Mar 2018 09:05:43   Eastern Standard Time

    • Major Support -0.6200
    • Ripple is continuing its weakness for the past 9 days after hitting high 1.0860 level. The pair has broken major support 0.6700 and declined at 0.53670 and is currently trading around 0.6750.
    • The pair has shown a good recovery and jumped till 0.72512.Any break above 0.7250 (10- day MA) confirms minor bullishness, a jump till 0.85/0.9055 (50- day MA)/1/1.0275. Any close above 1.0850 will take the pair to next level till 1.200/1.2280. Short term bullishness only above 2.25 level.
    • The near term support is around 0.6500 and any break below will drag the pair down till targets 0.6000. Major support at 0.490 (233-day MA) is last hopes for bulls. Any violation below will drag the pair till 0.25/0.15 level. The near term support is around 0.87/0.61.

    It is good to buy on dips around 0.6000 with SL around 0.500 for the TP of 0.85/1.