Crypto Technicals: Potential 'Death Cross' on XRP/USD to keep downside pressure
Tue, 13 Aug 2019, 04:27 am UTC
XRP/USD chart - Trading View
Exchange - Kraken
Support: 0.2840 (trendline); Resistance: 0.3131 (21-EMA)
Technical Analysis: Bias Bearish
XRP/USD was trading 0.57% lower on the day at 0.2986 at 04:15 GMT.
Technical indicators are bearishly aligned, scope for further downside.
A potential 'Death Cross' on the daily charts raises scope for further weakness.
Price action below major moving averages and daily cloud, 5-DMA is biased lower.
RSI is well below 50. Stochs are biased lower and GMMA shows major trend has shifted to bearish.
Next bear target lies at 0.2840 (trendline). Violation there required for further downside.
21-EMA is immediate resistance at 0.3131. Break above 200-DMA (0.3425) could negate near-term bearishness.
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