Crypto Technicals: XRP/USD resumes weakness after rejection at 21-EMA, eyes trendline support at 0.1980
Wed, 11 Dec 2019, 06:28 am UTC
XRP/USD chart - Trading View
Exchange - Kraken
Support: 0.1980 (Trendline); Resistance: 0.2239 (20-DMA)
Technical Analysis: Bias Bearish
Ripple has resumed weakness after rejection at 21-EMA, technical bias is strongly bearish.
XRP/USD is extending weakness for the 3rd straight session, scope for test of trendline support at 0.1980.
The pair was trading 1.03% lower on the day at 0.2202 at 06:00 GMT after closing 0.81% lower in the previous session.
Major and minor trend in the pair are bearish and Stochastics RSI is on verge of rollover from overbought.
Price action is extending grind lower along downward sloping 20-DMA (currently at 0.2239).
Scope for dip till trendline support at 0.1980. Near-term bearish invalidation only above 21-EMA (0.2303).
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