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Crypto Technicals: XRP/USD holds cloud support, intraday bias bearish

XRP/USD chart - Trading View 

Exchange - Kraken

Support: 0.2697 (Daily cloud); Resistance: 0.2838 (55-EMA)

Technical Analysis: Bias Bearish

XRP/USD posts minor pullback from fresh 3-week lows at 0.2680, bias remains bearish.

The pair was trading largely muted at 0.2742 at 07:30 GMT after closing 1.66% lower in the previous session.

Recovery attempts capped at 5-DMA (0.2764). Break above could see gains till 55-EMA at 0.2838. 

Technical bias for the pair on the daily charts as shown by GMMA has shifted to bearish. Scope for further downside.

Stochs and RSI are now sharply lower, RSI has slipped below 50 mark. MACD and ADX also support weakness. 

Price action is on track to break daily cloud support. Dip till 0.2472 (Oct 23 low) likely. 
 

By Anupama Grandhi
  • Market Data
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