Crypto Technicals: Ripple spikes over 3% on Nasdaq’s XRP index launch, scope for further upside

XRP/USD chart - Trading View 

Exchange - Bitfinex

Support: 0.3103 (5-DMA); Resistance: 0.3252 (converged 50-DMA and trendline)

Technical Analysis: Bias turning Bullish

- Ripple spiked over 3% to hit 7-day highs at 0.3267 on Nasdaq’s XRP index launch

- The pair has pared some gains to currently trade at 0.3183 at 1050 GMT

- XRP bulls battling with stiff resistance at 0.3252 (converged 50-DMA and trendline), break above to see further gains

- Technical indicators are turning slightly bullish. RSI and Stochs are now biased higher

- MACD is on verge of bullish crossover on signal line, 5-DMA is showing a turn

- Breakout at 0.3252 eyes 110-EMA at 0.3337 and then Upper BB at 0.3462

- Retrace below 5-DMA will see retest of double bottom at 0.2853

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