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Crypto Technicals: XRP/USD edges higher from fresh 3-week lows at 0.2565, bias strongly bearish

XRP/USD chart - Trading View 

Exchange - Kraken

Support: 0.2472 (Oct 21 low); Resistance: 0.2750 (100-DMA)

Technical Analysis: Bias Bearish

XRP/USD is extending weakness for the 3rd straight week, bias strongly bearish.

The pair slipped below daily cloud to hit fresh 3-week lows at 0.2565 before paring some losses to trade at 0.2686 at 05:55 GMT.

Technical indicators have turned bearish. Stochs and RSI are sharply lower and RSI is well below 50 mark.

MACD is biased lower and ADX supports weakness along with -ve DMI dominance.

Supports on the downside are seen at 0.2472 (Oct 21 low) ahead of lower weekly Bollinger band at 0.2210.

5-DMA is immediate resistance at 0.2731, break above will see gains till 55-EMA at 0.2828.
 

By Anupama Grandhi
  • Market Data
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