Crypto Technicals: XRP/USD finds stiff resistance at 55-EMA, bias neutral

XRP/USD chart - Trading View

Exchange - Kraken

Technical Analysis: Bias Neutral

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

Overbought/ Oversold Index: Neutral

Support: 0.2085 (200H MA); Resistance: 0.2156 (55-EMA)

XRP/USD was trading 1.88% lower on the day at 0.2110 at 08:40 GMT, intraday bias is neutral.

The pair is extending sideways after price action was rejected at 55-EMA which is offering stiff resistance at 0.2156.

Major trend has been bearish and minor trend is now neutral. Breakout at 55-EMA will change near-term dynamics.

Stochs and RSI converge with price action, raising scope for further gains. Breakout at 55-EMA could see test of 23.6% Fib at 0.2529.

The pair is holding break above 21-EMA, finds immediate support at 50-DMA at 0.2080. Retrace below 21-EMA negates near-term bullishness.

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