Crypto Technicals: XRP/USD holds 200H MA support (0.2009), bearish bias to drag prices lower

XRP/USD chart - Trading View

Exchange - Kraken

Technical Analysis: Bias Bearish

GMMA Indicator: Major Trend - Bearish; Minor Trend - Bearish

Overbought/ Oversold Index: Neutral

Support: 0.2009 (200H MA); Resistance: 0.2087 (50-DMA)

XRP/USD was trading 1.51% lower on the day at 0.2007 at 08:45 GMT, bias has turned bearish.

The pair is extending weakness for the 4th straight session, technical studies support more downside.

Stochs and RSI are now biased lower. RSI has slipped below the 50 mark. Stochastics RSI shows rollover from overbought levels.

Major trend has been bearish and minor trend has also shifted to bearish with short-term moving averages turning south.

The pair is holding support at 21-EMA (0.2013) and 200H MA at 0.2009. Break below will see further downside.

Next immediate support lies at 20-DMA at 0.1963 ahead of 0.1740 (Dec 18th low). Decisive break above 55-EMA (0.2155) required for any meaningful upside.

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