Crypto Technicals: XRP/USD capped at 20-DMA, on track to test trendline support at 0.1975
Thu, 12 Dec 2019, 06:44 am UTC
Exchange - Kraken
Support: 0.1975 (Trendline); Resistance: 0.2233 (20-DMA)
Technical Analysis: Bias Bearish
Ripple extends weakness for the 4th straight session, technical bias is strongly bearish.
XRP/USD was trading 0.96% lower on the day at 0.2186 at 06:30 GMT after closing 0.80% lower in the previous session.
Major and minor trend in the pair are bearish and Stochastics RSI shows rollover from overbought levels.
Stochs and RSI are biased lower. MACD and ADX support downside. Volatility is rising which could drag prices lower.
Scope for dip till trendline support at 0.1975. Near-term bearish invalidation only above 21-EMA (0.2292).
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