FxWirePro- XRPUSD Daily outlook

Ichimoku Analysis (Daily Chart)

 Tenken-Sen- $1.46388

 Kijun-Sen- $1.30825      

XRPUSD was one of the best performers this month and surged more than 245% from a close of $0.5700. The ripple cryptocurrency was highly affected by a case filed by the Securities exchange commission against Ripple labs. The pair hammered sharply and hits a low of $0.21. But positive development in the case against Ripple is supporting the price recovery. The most of exchanges have delisted XRP after the SEC case. The pair surged more than 20% after Singapore-based Phemex relisting ripple. It hits an intraday high of $1.6000 and is currently trading around $1.57224.           

On the higher side, near-term resistance is around $1.56639 (61.8% fib) and any convincing break above that level will take the pair to next level till $1.850/$2.00/$2.60. The immediate support is around $1.40, any violation below will drag the XRPUSD to the next level of $1.28/1.144/$1.1245. Significant trend weakness only if breaks below $0.80.              

It is good to buy on dips around $1.5500 with SL around $1.2800 for the TP of $2/$2.60.