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Crypto Technicals: XRP/USD slips below 21-EMA, more weakness to follow
XRP/USD chart - Trading View
Exchange - Kraken
Technical Analysis: Bias Bearish
GMMA Indicator: Major Trend - Neutral; Minor Trend - Bearish
Overbought/ Oversold Index: Neutral
Support: 0.2104 (50-DMA); Resistance: 0.2224 (21-EMA)
XRP/USD was trading 4.22% lower on the day at 0.2158 at around 09:45 GMT, bias is bearish.
The pair has slipped below 21-EMA support and technical studies suggest further weakness to follow.
Price action has been capped at daily cloud and indicators raise scope for downside.
'Death Cross' on the hourly charts and bearish MACD crossover on signal line adds to the bearish bias.
The pair is on track to test 50-DMA at 0.2104. Break below 50-DMA to plummet prices lower. Next major support lies at cloud base at 0.1975.