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Crypto Technicals: XRP/USD finds stiff resistance at 55W-EMA (0.4592), potential 'Golden Cross' keeps scope for upside

Tuesday, May 28, 2019 7:57 AM UTC

XRP/USD chart - Trading View

Exchange - Binance

Support: 0.3467 (200-DMA); Resistance: 0.4593 (55W-EMA)

Technical Analysis: Bias bullish

XRP/USD pauses 5 straight sessions of gains, trades marginally lower on the day at 0.4264 at 07:45 GMT.

The pair extends gains along 5-DMA which is sharply higher. RSI and Stochs are also biased higher.

Pullback in the pair has held above 200-DMA support, GMMA has shown a shift in trend, scope for further upside.

Price action is above cloud and major moving averages, but 55W-EMA at 0.4593 is stiff resistance.

A potential 'Golden Cross' (50-DMA bullish crossover on 200-DMA) keeps scope for gains.

Break above 55W-EMA eyes 38.2% Fib retracement at 0.4759. Bullish invalidation likely below 200-DMA.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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Crypto Technicals: XRP/USD finds stiff resistance at 55W-EMA (0.4592), potential 'Golden Cross' keeps scope for upside

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