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Crypto Technicals: XRP/USD fades upside momentum, extends weakness below 5-DMA, bias bearish

Mon, 02 Dec 2019, 12:00 pm UTC

XRP/USD chart - Trading View

Exchange - Kraken

Support: 0.2038 (Lower BB); Resistance: 0.2232 (200H MA)

Technical Analysis: Bias Bearish

XRP/USD starts the week on a bearish note, extends weakness below 5-DMA.

The pair was trading 2.57% lower on the day at 0.2195 at 11:15 GMT, after closing 0.30% lower in the previous session.

Technical indicators have turned bearish, Stochs and RSI have turned bearish.

'Death Cross' (bearish 50-DMA crossover on 200-DMA) on the hourly charts adds to the bearish bias.

Major and minor trend for the pair are bearish as indicated by the GMMA indicator.

Scope for dip till lower BB at 0.2038. Break below 0.20 (psychological mark) could plummet prices to fresh lows.

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