Crypto Technicals: XRP/USD set to extend weakness, 21-EMA caps upside

XRP/USD chart - Trading View

Exchange - Kraken

Support: 0.2335 (Aug 14th low); Resistance: 0.2771 (21-EMA)

Technical Analysis: Bias Bearish

XRP/USD extends weakness for the 4th straight week, bias still bearish.

The pair was trading 1.84% lower at 0.2515 at 10:15 GMT.

Technical studies support further downside, Stochs and RSI are sharply lower.

GMMA supports weakness, volatility is rising and Stochastics RSI shows rollover from overbought levels.

'Death Cross' (bearish 50-DMA crossover on 200-DMA) keeps bearish pressure.

Next bear target lies at 0.2335 (Aug 14th low) ahead of 0.2227 (Lower Bollinger band).

21-EMA is major resistance at 0.2771, break above could see minor upside. Bearish invalidation only above 200-DMA.

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