Major resistance – 1.2280. Ripple shown a minor recovery after hitting low of 0.8600 level.. The pair has closed well below 100- day MA yesterday and declined till 0.9210 level. It is currently trading around 0.9550. The…
Ripple shown a minor recovery after hitting low of 0.8600 level.. The pair has closed well below 100- day MA yesterday and declined till 0.9210 level. It is currently trading around 0.9550.
The pair is trading weak for past five trading days after hitting high of 1.144 level on Feb 15th 2018. Any close above 1.1300 confirms minor bullishness, a jump till 1.2280/1.4074 (50- day MA) is possible. Any close above 1.4074 will take the pair to next level till 1.7400 (Jan 18th 2018 high)/2. Short term bullishness only above 2.25 level.
The near term support is around 0.8600 and any break below will drag the pair down till 0.8000.Any violation below 0.8000 targets 0.6700/0.6100. 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 sell on rallies around 1.035-1.05 with SL around 1.20 for the TP of 0.80/0.67.
