Crypto Technicals: XRP/USD breaks out of range trade, holds above 55-EMA, scope for further upside
Tue, 14 Jan 2020, 09:36 am UTC
XRP/USD chart - Trading View
Exchange - Kraken
Technical Analysis: Bias slightly Bullish
GMMA Indicator: Major Trend - Neutral; Minor Trend - Bullish
Overbought/ Oversold Index: Neutral
Support: 0.2063 (21-EMA); Resistance: 0.2369 (110-EMA)
XRP/USD was trading 4.30% higher on the day at 0.2205 at 09:25 GMT, bias turns bullish.
The pair has broken out of range trade and was holding gains above 55-EMA.
Price action is extending gains in sync with greater crypto market bullishness.
Scope for further upside as technical indicator turn bullish on the daily charts.
Stochs and RSI show bullish momentum, MACD and ADX also support the uptrend.
Decisive breakout at 55-EMA eyes 110-EMA at 0.2370 ahead of 23.6% Fib at 0.2529.
Failure to hold above 55-EMA could see sideways for longer.
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