Crypto Technicals: XRP/USD consolidates Monday's spike, finds stiff resistance at daily cloud

XRP/USD chart - Trading View

Exchange - Kraken

Support: 0.2038 (5-DMA); Resistance: 0.2271 (daily cloud)

Technical Analysis: Bias Bullish

XRP/USD was trading 3.63% lower on the day at 0.2151 at 09:50 GMT, bias bullish.

The pair is consolidating the spectacular spike on Monday's trade and is holding above 50-DMA support.

Price action finds stiff resistance at daily cloud and is currently consolidating around 55-EMA.

Technical indicators support gains, momentum is with the bulls. 'Bullish Divergence' on Stochastics adds to the upside bias.

Break into daily cloud eyes 110-EMA at 0.2403 ahead of 23.6% Fib at 0.2529.

5-DMA is immediate support at 0.2038. Retrace below 200H MA (0.1957) negates bullish bias.

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