FxWirePro- XRPUSD daily outlook

Ripple pared some of its gains after forming a minor top around $0.6310. It hit a low of $0.54578 and is currently trading around $0.55488.

According to Whale Alert, Ripple has unlocked $1 billion in XRP tokens in three phases.

Fred Rispoli XRP lawyer raised a question on Twitter

If there is an appeal and if Ripple wins on every issue over the SEC, aside from returning the $125M penalty to Ripple, does the SEC have to pay statutory interest on that?

Horizontal trend line- $0.750

Downtrend channel resistance- $0.680

Any daily close above $0.68 confirms further bullishness.

The pair holds below the short-term (34 and 55-day EMA) and long-term moving average (200-day EMA).

The near-term resistance is around $0.5800, any indicative breach above will take the pair to 0.6170/0.6320/$0.650/$0.68/$0.75/0.820/0.900/$1. On the lower side, immediate support is $0.55, and any violation below targets $0.50/$0.45/$0.40.

Indicators ( 4- hour chart)

Directional movement index  -Neutral

CCI (50)- Bearish

CCI(14)- Bearish

It is good to buy on dips around $0.55 with SL around $0.40 for TP of $1.