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Crypto Technicals: Ripple breaks below 200-DMA, opens up further downside
XRP/USD chart - Trading View
Exchange - Bitstamp
Support: 0.28 (Trendline support); Resistance: 0.3655 (5-DMA)
Technical Analysis: Bias Bearish
XRP/USD has shown a break below 200-DMA support on Thursday's trade.
The pair is currently making futile attempts to retrace the dip below 200-DMA.
Technical indicators support weakness. Momentum with the bears. Break below 200-DMA has opened up further downside.
Bearish divergence on RSI and Stochs on the daily charts adds to the bearish bias. 5-DMA is sharply lower and volatility is rising.
Scope for dip till major trendline support at 0.28. Retrace above 200-DMA may see some consolidation.
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