FxWirePro- XRPUSD Daily Outlook

XRPUSD trades weak as Ripple Co-Founder supports Kamala Harris in US elections. It hit a low of $0.50263 and is currently trading around $0.53704.

Ripple Co-Founder Chris Larsen' joined 88 corporate leaders who support Kamala Harris to be the next US president in a letter.

Horizontal trend line- $0.680

Any daily close below $0.50 confirms further bearishness.

The pair holds below the short-term (34 and 55-day EMA) and long-term moving average (200-day EMA).

The near-term resistance is around $0.5500, any indicative breach above will take the pair to 0.5800/0.6170/0.6320/$0.650/$0.68/$0.75/0.820/0.900/$1. On the lower side, immediate support is $0.500, and any violation below targets $0.50/$0.45/$0.40.

Indicators ( 4- hour chart)

Directional movement index -Neutral

CCI (50)- Bearish

CCI(14)- Bullish

It is good to buy on dips around $0.5350 with SL around $0.40 for TP of $1.

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