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Crypto Technicals: XRP/USD pauses at 0.34 handle, consolidation likely before next leg higher

Fri, 14 Feb 2020, 08:50 am UTC

XRP/USD chart - Trading View

Exchange - Kraken

Technical Analysis: Bias Bullish

GMMA Indicator: Major Trend - Bullish; Minor Trend - Bullish

Overbought/ Oversold Index: Overbought

Volatility: High and Rising

Support: 0.3024 (5-DMA); Resistance: 0.3413 (50% Fib)

XRP/USD has paused upside at 0.34 handle, bias remains bullish.

The pair was trading 1.49% lower on the day at 0.3225 at around 08:45 GMT.

Momentum is with the bulls, but overbought oscillators can hamper gains.

Minor correction or sideways consolidation likely before the next leg higher.

5-DMA is immediate support at 0.3023. Break below 200-DMA (0.2551) will negate near-term upside.

On the flipside, resumption of upside will see gains till 61.8% Fib at 0.3807. Further upside only on break above.

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  • Bitcoin (BTC) $9,796.08 (-2.02%)
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  • Bitcoin SV (BSV) $269.78 (-14.40%)
  • Bitcoin (BTC) $9,796.08 (-2.02%)
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