XRP/USD chart - Trading View
Exchange - Binance
Support: 0.3467 (200-DMA); Resistance: 0.4593 (55W-EMA)
Technical Analysis: Bias bullish
XRP/USD pauses 5 straight sessions of gains, trades marginally lower on the day at 0.4264 at 07:45 GMT.
The pair extends gains along 5-DMA which is sharply higher. RSI and Stochs are also biased higher.
Pullback in the pair has held above 200-DMA support, GMMA has shown a shift in trend, scope for further upside.
Price action is above cloud and major moving averages, but 55W-EMA at 0.4593 is stiff resistance.
A potential 'Golden Cross' (50-DMA bullish crossover on 200-DMA) keeps scope for gains.
Break above 55W-EMA eyes 38.2% Fib retracement at 0.4759. Bullish invalidation likely below 200-DMA.
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