Crypto Technicals: XRP/USD extends weakness for the 2nd straight session, slips below 55-EMA

XRP/USD chart - Trading View 

Exchange - Kraken

Support: 0.2632 (21-EMA); Resistance: 0.2826 (cloud top)

Technical Analysis: Bias Neutral

XRP/USD was trading weaker for the second straight session, bias is neutral to slightly bearish.

The pair was trading at 0.2671, down 1.46% at the time of writing (07:30 GMT).

Upside failed to break out of daily cloud, stiff resistance at cloud top at 0.2826.

Price action has slipped below 55-EMA at 0.2716, finds next major support at 21-EMA at 0.2632.

Break below 21-EMA will likely plummet prices. Scope for test of 0.2335 (Aug 14th low).

5-DMA (0.2748) caps upside on the day, bearish invalidation only above daily cloud.