Crypto Technicals: XRP/USD extends consolidation above 200H SMA, 21-EMA (0.2705) offers stiff resistance

XRP/USD chart - Trading View

Exchange - Kraken

Support: 0.2586 (5-DMA); Resistance: 0.2705 (21-EMA)

Technical Analysis: Bias Bearish

XRP/USD extends sideways grind, consolidates break above 200H SMA.

The pair is trading in a major bear-trend as indicated by GMMA indicator.

Volatility is low and the pair finds stiff resistance at 21-EMA at 0.2705.

RSI is well below 50 and Stochs are at oversold levels. Price action is below cloud and major MAs.

A bullish divergence keeps scope for some upside in the pair. Breakout above 21-EMA could see minor gains.

Retrace below 200H SMA (0.2603) support will see resumption of weakness. Retest of 0.2335 (Aug 14 low) likely.

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