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Crypto Technicals: XRP/USD grinds lower along 200H SMA, break below 5-DMA to see further weakness
XRP/USD chart - Trading View
Exchange - Bitstamp
Support: 0.3107 (5-DMA); Resistance: 0.3203 (200H SMA)
Technical Analysis: Bias Bearish
XRP/USD has paused recovery, trades 1.97% lower at 0.3144 at 10:45 GMT.
Upside in the pair has been capped at 200H SMA which is offering stiff resistance.
There is also slight divergence on RSI and Stochs on the hourly charts which raises scope for weakness.
5-DMA is immediate support at 0.3107. Break below could see weakness till lower Bollinger Band at 0.2805.
Breakout at 200H SMA will see upside till 200-DMA at 0.3451. Bearish invalidation only above 200-DMA.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.