FxWirePro: XRP/USD struggles to close above 100- day MA, good to sell on rallies

• Major resistance – 1.2280.
   
• Ripple has declined slightly after hitting high 1.0850 level. The pair has closed well below 100- day MA for five trading session. It is currently trading around 0.9170.
   
• The pair is trading weak for past two trading days after hitting high of 1.0850 level yesterday. Any close above 1.0986 (100- day MA) confirms minor bullishness, a jump till 1.1580 (50- day MA)/1.2000 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 1.025 with SL around 1.100 for the TP of 0.80/0.67.