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XRP/USD chart - Trading View
Exchange - Kraken
Support: 0.2335 (Aug 14th low); Resistance: 0.2771 (21-EMA)
Technical Analysis: Bias Bearish
XRP/USD extends weakness for the 4th straight week, bias still bearish.
The pair was trading 1.84% lower at 0.2515 at 10:15 GMT.
Technical studies support further downside, Stochs and RSI are sharply lower.
GMMA supports weakness, volatility is rising and Stochastics RSI shows rollover from overbought levels.
'Death Cross' (bearish 50-DMA crossover on 200-DMA) keeps bearish pressure.
Next bear target lies at 0.2335 (Aug 14th low) ahead of 0.2227 (Lower Bollinger band).
21-EMA is major resistance at 0.2771, break above could see minor upside. Bearish invalidation only above 200-DMA.
