FxWirePro: XRP/USD trades well above 200- day MA, jump till $1 likely
Ripple is continuing its bullish trend for third consecutive days and from yesterday’s low pair has jumped almost 25%. The pair broken major resistance at 0.7450 (200- day MA) and jumped till 0.8814. The pair formed almo…
Ripple is continuing its bullish trend for third consecutive days and from yesterday’s low pair has jumped almost 25%. The pair broken major resistance at 0.7450 (200- day MA) and jumped till 0.8814. The pair formed almost a double bottom at 0.4500 and any further weakness only below that level. it is currently trading around 0.87220.
Any break above 0.9220 (100- day MA) confirms minor bullishness, a jump till $1/1.08600. Short term bullishness only above 1.08600 level.
The near term support is around 0.7450 and any break below will drag the pair down till targets 0.6700 (20- day MA)/0.600/0.5500.
It is good to buy on dips around 0.8000 with SL around 0.7450 for the TP of 1/1.0860.
