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Crypto Technicals: XRP/USD extends weakness below 55-EMA, exhibits signs of bearish continuation

XRP/USD chart - Trading View 

Exchange - Kraken

Support: 0.2664 (Daily cloud); Resistance: 0.2850 (55-EMA)

Technical Analysis: Bias Bearish

XRP/USD is extending previous sessions losses, slips below 55-EMA support.

The pair was trading at 0.2774, down 4.37% at 09:30 GMT after closing 6.55% lower on Thursday's trade.

Technical bias for the pair has shifted to bearish. Scope for further downside.

Stochs and RSI are now sharply lower, RSI has slipped below 50 mark.

Price action has slipped below 50-DMA and 100-DMAs, is on track to test daily cloud at 0.6664.

Break below cloud will accentuate weakness. Volatility is rising and break below cloud finds next support at 0.2472 (Oct 23 low). 
 

By Anupama Grandhi
  • Market Data
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