Crypto Technicals: XRP/USD breaks out of range trade, holds above 55-EMA, scope for further upside

XRP/USD chart - Trading View

Exchange - Kraken

Technical Analysis: Bias slightly Bullish

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

Overbought/ Oversold Index: Neutral

Volatility: Rising

Support: 0.2063 (21-EMA); Resistance: 0.2369 (110-EMA)

XRP/USD was trading 4.30% higher on the day at 0.2205 at 09:25 GMT, bias turns bullish.

The pair has broken out of range trade and was holding gains above 55-EMA.

Price action is extending gains in sync with greater crypto market bullishness.

Scope for further upside as technical indicator turn bullish on the daily charts.

Stochs and RSI show bullish momentum, MACD and ADX also support the uptrend.

Decisive breakout at 55-EMA eyes 110-EMA at 0.2370 ahead of 23.6% Fib at 0.2529.

Failure to hold above 55-EMA could see sideways for longer.

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