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Crypto Technicals: XRP/USD capped at 21-EMA, extends weakness for the 2nd straight session
XRP/USD chart - Trading View
Exchange - Kraken
Support: 0.1985 (Trendline); Resistance: 0.2259 (5-DMA)
Technical Analysis: Bias Bearish
XRP/USD is extending weakness for the 2nd straight session after upside was rejected at 21-EMA.
The pair was trading 1.23% lower on the day at 0.2215 at 06:25 GMT after closing 2.37% lower in the previous session.
Technical studies are biased lower, RSI is below 50 and Stochs are on verge of rollover from overbought levels.
Major trend in the pair has been bearish and now minor trend as depicted by the short-term MAs in the GMMA indicator has shifted to bearish.
Price action has slipped below cloud and 200H MA on the 2H charts and scope for dip till trendline support at 0.1985.
5-DMA is immediate resistance at 0.2260. Break above 21-EMA will negate near-term bearish bias.