Ripple: Price Analysis, June 08

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XRP/USD

Ripple has held the 20-day EMA for the past five days but has failed to move up. It has been trading in a small range for the past two days. Both moving averages are flat, which confirms consolidation in the short-term.




XRP




The probable range is between $0.633-$0.75. A break of $0.633 can sink the XRP/USD pair to $0.56 levels, whereas, a break above $0.75 can carry it to the downtrend line of the descending triangle.

The digital currency will turn bullish if it breaks out and sustains above the downtrend line of the descending triangle.  We don’t find any buy setups at the present levels; hence, we are not suggesting any trade on it.

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