Crypto Technicals: XRP/USD extends sideways grind, bias bearish as long as 200-DMA resistance holds

XRP/USD chart - Trading View 

Exchange - Kraken

Support: 0.2990 (Lower BB); Resistance: 0.3276 (21-EMA)

Technical Analysis: Bias Bearish

XRP/USD is extending sideways grind, major trend remains bearish.

The pair was trading 2.33% lower on the day at 0.3125 at 10:00 GMT.

GMMA has shown a shift in trend to bearish with both short and long term moving averages pointing south.

RSI is well below 50 levels and Stochs have turned south, scope for further weakness.

Upside was capped at weekly cloud and price has has retraced below major moving averages.

Bias remains bearish as long as pair holds 200-DMA resistance. Breakout could change dynamics for the pair.

Near-term bias is bearish. Scope for test of 0.2820 (trendline support). Further weakness only on break below.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.