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Crypto Technicals: XRP/USD cools slightly from 6-week highs at 0.3129, finds stiff resistance at 21W EMA (0.3186)

XRP/USD chart - Trading View 

Exchange - Kraken

Support: 0.2846 (55-EMA); Resistance: 0.3186 (21W EMA)

Technical Analysis: Bias Bullish

XRP/USD has trimmed some of its gains, edges lower from 6-week highs at 0.3129.

The pair was trading at 0.3039, up 6.36% at 03:50 GMT, bias remains bullish.

Price action has broken into daily cloud and has taken out 23.6% Fib at 0.2984.

Stochs and RSI are sharply higher and bullish 5 and 20 DMA crossover adds to the upside bias.

RSI has entered overbought levels and price action is above upper Bollinger band. Some correction possible before the next leg higher.

On the weekly charts, the pair has broken above 5W SMA and now finds stiff resistance at 21W EMA at 0.3186.

Decisive break above 21W EMA will propel the pair higher. Next bull target lies at 200-DMA at 0.3350.

55-EMA is strong support at 0.2846. Retrace below 21-EMA (0.2677) negates near-term bullish bias.

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