Crypto Technicals: XRP/USD pauses downside at 0.20 handle, 'Hammer' at lows suggests minor consolidation

XRP/USD chart - Trading View

Exchange - Kraken

Support: 0.1500 (Sept 2017 low); Resistance: 0.2289 (5-DMA)

Technical Analysis: Bias bearish

XRP/USD has edged higher from multi-year lows at 0.2002, bias remains bearish.

The pair was trading at 0.2180 at 11:00 GMT, down 0.29% at the time of writing.

Technical studies support further weakness in the pair, scope for downside resumption.

That said, a potential 'Hammer' formation at lows raises scope for some consolidation.

5-DMA is immediate resistance at 0.2289. Break above will see gains till 21-EMA at 0.2548.

Major and minor trend have shifted to bearish. Scope for test of Sept 2017 lows at 0.1500.

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