XRP/USD: Ripple dipped below its 500 EMA; bulls losing its grip

XRP/USD: Ripple dipped below its 500 EMA; bulls losing its grip 

What is going on with XRP/USD?

XRP/USD: Ripple broke the consolidation cycle after falling below its 500 EMA and 0.460 during the overnight session. The pair fell to 0.438 but was supported and pushed its way back up in this mornings session.

Our forecast

XRP/USD: The pair currently trades at 0.452 and attempts to cross over its 500 EMA in the 60 minutes price chart. The pair still needs to break and hold above its 500 EMA and 0.460 to continue to the upside. The upside target remains at 0.482, 0495, and 0.505. The pair could reverse and head down to 0.438 and 0.425 if it fails at its 500 EMA

Support - 0.450, 0.438, and 0.425

Resistance - 0.460, 0.468, 0.482, and 0.495, 

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Chart 1: The short-term view of the XRP/USD price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points

Chart 2: The short-term view of the XRP/USD price action in the four hours price chart highlights the direction of the trend and the support and resistance price points