FxWirePro: XRP/USD downside capped by 100 –day MA, good to buy on dips

• Major resistance – 1.2700 (23.6% fibo).
   
• Ripple is consolidating in narrow range after hitting high of 1.22961 on Saturday. The pair was trading in narrow range between 0.88750 and 1.07800 for the past four trading session. It is currently trading around 1.04613.
   
• The pair is trading higher and closed above 100- day MA for the past three trading days. This shows slight bullishness, a jump till 1.5000 (50- day MA) is possible. Any close above 1.5000 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 0.9400 and any break below will drag the pair down till 0.87000/0.8000.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 buy on dips around 1.0200 with SL around 0.925 for the TP of 1.500/1.7400.