Ripple: Price Analysis, April 11

1

XRP/USD

Lackluster trading activity continues in Ripple. It has been in a range since March 30, with support at $0.45351 and resistance at $0.56270.




XRP/USD




Both moving averages are sloping down, which shows continued weakness. The XRP/USD pair should gain some strength once it sustains above the $0.56270 levels. Beyond this level, it can rally to the 50-day SMA at $0.70.

We shall wait for the breakout before recommending any trades on it.

Contrary to our expectation, if the digital currency breaks down of the range, it can fall to $0.35 levels.

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