Crypto Technicals: XRP/USD capped below 5-DMA, on track to test trendline support at 0.1995
Thu, 05 Dec 2019, 07:09 am UTC
XRP/USD chart - Trading View
Exchange - Kraken
Support: 0.1995 (Trendline); Resistance: 0.2223 (200H MA)
Technical Analysis: Bias Bearish
XRP/USD was trading largely rangebound on the day at 0.2148 at 07:00 GMT, after closing 2.49% lower in the previous session.
The pair is extending weakness below 5-DMA and is on track to test trendline support at 0.1995.
Technical indicators have turned bearish, Stochs and RSI have turned bearish. MACD is well in the negative territory.
'Death Cross' (bearish 50-DMA crossover on 200-DMA) on the hourly charts plummets prices further.
Price action is below cloud and major moving averages. Major and minor trend are bearish as shown by the GMMA indicator.
Next support lies at lower BB at 0.2013. Break below will see test of strong trendline support at 0.1995.
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