Crypto Technicals: XRP/USD grinds lower, hidden divergence to plummet prices
Thu, 12 Sep 2019, 04:58 am UTC
XRP/USD chart - Trading View
Exchange - Kraken
Support: 0.2335 (Aug lows); Resistance: 0.2627 (21-EMA)
Technical Analysis: Bias Bearish
XRP/USD is extending gradual grind lower, bias is still bearish.
Major and minor trend remain bearish as suggested by the GMMA indicator.
Minor recovery attempts capped at 21-EMA which is stiff resistance at 0.2627.
'Death Cross' and 'Hidden bearish divergence' to plummet prices further.
Scope for retest of August 2019 lows at 0.2335. Further weakness eyes 0.2050 (Dec 2017 low).
Volatility is low. Breakout at 21-EMA will see minor upside. Retrace above 200-DMA (0.3363) negates bearish bias.
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