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Crypto Technicals: XRP/USD pauses at cloud top, break above eyes 100-DMA at 0.2924

Wed, 09 Oct 2019, 06:40 am UTC

XRP/USD chart - Trading View

Exchange - Kraken

Support: 0.2716 (55-EMA); Resistance: 0.2863 (cloud top)

Technical Analysis: Bias slightly bullish

XRP/USD is trading rangebound on the day at 0.2754 at 06:20 GMT, with session high at 0.2802 and low at 0.2735.

The pair is consolidating above 55-EMA which offers strong support at 0.2716. Retrace below negates near-term upside.

Technical indicators are biased higher, Stochs are sharply higher and RSI is above 50.

A bullish 5-DMA crossover on 20-DMA and 'Bullish Divergence' adds to the upside bias.

Breakout above cloud finds next major resistance at 100-DMA at 0.2924. Break above confirms further gains.

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