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- Major resistance – 0.7450 (200- day MA).
- Ripple has shown a more than 10% recovery after hitting low of 0.63314. The pair was shown a minor bullishness after three days of consolidation. It is currently trading around 0.68935. The pair formed almost a double bottom around 0.4500 and major weakness below that level.
- Any break above 0.7000 (55- day EMA) confirms minor bullishness, a jump till 0.7450 (200-day MA). A daily close above 200 –day MA will take the pair till 0.8000/0.84624 (50% fib)/0.900. Short term bullishness only above 1.08600 level.
- The near term support is around 0.600 and any break below will drag the pair down till targets 0.550/0.500/0.4500.
It is good to buy on dips around 0.6500 with SL around 0.6000 for the TP of 0.7450/0.8000.
