FxWirePro: XRP/USD faces strong support at 100 –day MA, any close below confirms further weakness

• Major resistance – 1.2280.
   
• Ripple has shown a minor dip slightly below 100- day MA after hitting high of 1.2000 level. The pair declined till 0.9750 and is currently trading around 1.01790.
   
• The pair is consolidating in narrow range for past two trading days and struggling to close above 55- day EMA. Any close above confirms minor 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 1 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 with SL around 0.920 for the TP of 1.500/1.7400.