Ripple : Price Analysis, March 02

6

XRP/USD

The buyers seem to have abandoned Ripple because, for the past eight days, it has been trading inside the range of $0.85 to $0.98669.




XPR




If the XRP/USD pair breaks out of the range, it is likely to rally to $1.12 levels where it will face resistance from the 50-day SMA. Once above this level, a move to $1.23 is likely.

On the other hand, a breakdown of the $0.85 levels can push the cryptocurrency down to the $0.72 levels. We are unsure of the direction of the next move, hence, have mentioned the result for both possibilities.

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