Digital Currency Series: Ethereum Halts Bullish Rout, What Drives Commendable Rallies? Quick Glimpse At Bullish Driving Forces
Digital Currency Revolution Series: Travala.com Partners With Expedia Group For Cryptocurrency-Based Travel Booking
Regulatory Series on Cryptocurrencies: US SEC Hammers Lobbyist CEO of AML Bitcoin With Fraudulent ICO Project
Regulatory Series on Cryptocurrencies: BIS Sheds Some Light on Evolution of CBDC Amid Pandemic Covid-19
Regulatory Series On Cryptocurrencies: US-SEC’s Finhub To Organize Virtual Meet-Ups Amid Pandemic Covid-19
Crypto Technicals: XRP/USD grinds lower along 200H SMA, break below 5-DMA to see further weakness
XRP/USD chart - Trading View
Exchange - Bitstamp
Support: 0.3107 (5-DMA); Resistance: 0.3203 (200H SMA)
Technical Analysis: Bias Bearish
XRP/USD has paused recovery, trades 1.97% lower at 0.3144 at 10:45 GMT.
Upside in the pair has been capped at 200H SMA which is offering stiff resistance.
There is also slight divergence on RSI and Stochs on the hourly charts which raises scope for weakness.
5-DMA is immediate support at 0.3107. Break below could see weakness till lower Bollinger Band at 0.2805.
Breakout at 200H SMA will see upside till 200-DMA at 0.3451. Bearish invalidation only above 200-DMA.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.