Crypto Technicals: XRP/USD set to extend previous week's bearish bias, eyes trendline support at 0.1975

XRP/USD chart - Trading View

Exchange - Kraken

Support: 0.1975 (Trendline); Resistance: 0.2220 (20-DMA)

Technical Analysis: Bias Bearish

Ripple bears firmly in control, XRP/USD set to extend previous week's bearish bias.

After closing 5.54% lower in the previous week, the pair now eyes trendline support at 0.1975.

XRP/USD was trading 1.74% lower on the day at 0.2132 at 06:10 GMT, after hitting session lows at 0.2093.

Major and minor trend in the pair are bearish and parabolic SAR now supports downtrend.

Stochs and RSI are biased lower. MACD and ADX support downside. Rising volatility to plummet prices.

Scope for dip till trendline support at 0.1975. Decisive break below required for downside continuation.

5-DMA is immediate resistance at 0.2169. Near-term bearish invalidation only above 21-EMA (0.2251).

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