BITFINEX:XRPUSD   XRP / U.S. Dollar

* We always provide both the bullish and bearish scenarios because the traders should be aware of what to expect in both cases.

After days of trading inside a range-bound, Ripple bounced back sharply from the 50-day SMA on Mar. 5. It broke down the support of the range at $0.86. In addition, Ripple finds it difficult to go inside the range again. Moving averages are another hurdle Ripple will face when moving up.

If Ripple succeeds to break out the moving averages a move to $1.25 is possible. On the other hand, failing to go inside the range as well as breaking out the moving averages may take Ripple to test the low of Fib. 6 at $0.57.

Please be noted that I'm just giving the possible higher or lower levels developing according to the chart patterns. It's my own analysis. You should conduct your own research when making a decision.
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