Crypto Technicals: XRP/USD breaks strong support at 0.3035, further weakness on charts

XRP/USD chart - Trading View 

Exchange - Bitfinex

Support: 0.2853 (double bottom Dec 15, Jan 29); Resistance: 0.3125 (cloud base)

Technical Analysis: Bias Bearish

- XRP/USD has broken below strong trendline support at 0.3035

- Price action has dipped below daily cloud, bias lower

- Stochs and RSI sharply lower and converge with price

- Momnetum with the bears, volatility is expanding, 5-DMA sharply lower

- Scope for weakness till 0.2853 (double bottom Dec 15, Jan 29)

- Immediate resistance lies at 0.3125 (cloud base). Break above 5-DMA could see further upside

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