FxWirePro: XRP/USD consolidates in narrow range, good to sell on rallies

• Major resistance – 1.2280.
   
• Ripple is consolidating narrow range after hitting low of 0.8500 level. The pair has closed well below 100- day MA for five trading session. It is currently trading around 0.8980.
   
• The pair is trading weak for past five trading days after hitting high of 1.20460 level on Feb 17th 2018. Any close above 1 confirms minor bullishness, a jump till 1.0789 (55- day EMA)/1.1580 (50- day MA) is possible. Any close above 1.2280 will take the pair to next level till 1.40600/1.5000. 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 0.950-55 with SL around 1.030 for the TP of 0.80/0.67.