Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: XRP/USD faces strong resistance at 200- day MA, break above targets $1

  • Major resistance – 0.7450 (200- day MA).
     
  • Ripple has shown a more than 10% recovery after hitting low of 0.63314. The pair was shown a minor bullishness after three days of consolidation. It is currently trading around 0.68935. The pair formed almost a double bottom around 0.4500 and major weakness below that level.
     
  • Any break above 0.7000 (55- day EMA) confirms minor bullishness, a jump till 0.7450 (200-day MA). A daily close above 200 –day MA will take the pair till 0.8000/0.84624 (50% fib)/0.900. Short term bullishness only above 1.08600 level.
     
  • The near term support is around 0.600 and any break below will drag the pair down till targets 0.550/0.500/0.4500.

It is good to buy on dips around 0.6500 with SL around 0.6000 for the TP of 0.7450/0.8000.  

 

 

 

 

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.