Crypto Technicals: XRP/USD erases most of previous session's gains, bias remains bearish

XRP/USD chart - Trading View

Exchange - Kraken

Support: 0.1500 (Sept 2017 low); Resistance: 0.1974 (5-DMA)

Technical Analysis: Bias Bearish

XRP/USD was trading 5.34% lower on the day at 0.1853 at around 09:40 GMT, bias remains bearish.

The pair has erased most of the previous session's gains, where the pair closed 7.27% higher at 0.1959.

Stiff resistance seen at 0.1975 (nearly converged 5-DMA and trendline), pair struggling to break above.

Major and minor trend remains bearish, recovery lacks traction. Upside likely to be limited.

Scope for downside resumption, test of 0.1500 ((Sept 2017 low) likely. Near-term bearish invalidation only above 20-DMA (0.2160).

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