Crypto Technicals: XRP/USD capped inside daily cloud, consolidates break break above 55-EMA

XRP/USD chart - Trading View

Exchange - Kraken

Support: 0.27210 (55-EMA); Resistance: 0.29375 (110-EMA)

Technical Analysis: Bias Neutral to slightly bullish

XRP/USD is consolidating break above 55-EMA, trades 1.46% lower at 0.2777 at 07:00 GMT.

'Bullish Divergence' to keep bias higher. 5-DMA is sharply higher and MACD shows bullish crossover on signal line.

The pair has formed successive spinning tops which suggests more consolidation at current levels.

Upside has been capped inside daily cloud, break above to see further upside.

On the flipside, the pair is holding support at 55H EMA (0.2766), break below could see downside.

Major resistance lies at 110-EMA at 0.2937, while major support lies at 21-EMA at 0.2634.

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