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Crypto Technicals: XRP/USD finds strong support at 0.2021, break below confirms further weakness

Thursday, January 9, 2020 8:37 AM UTC

XRP/USD chart - Trading View

Exchange - Kraken

Support: 0.2021 (4H 200 MA); Resistance: 0.2090 (5-DMA)

Technical Analysis: Bias Neutral

XRP/USD trades rangebound on the day with session highs at 0.2087 and lows at 0.2052.

The pair is extending weakness for the 3rd straight session and has slipped below 5-DMA.

Failure to hold break above 55-EMA has dented scope for further gains. Cloud offers stiff resistance on the upside.

RSI has turned lower, but holds above the 50 mark. Stochs show rollover from near overbought levels.

Major trend in the pair is still bearish. 4H 200 MA is strong support at 0.2021. Retrace below will see further weakness.

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Crypto Technicals: XRP/USD finds strong support at 0.2021, break below confirms further weakness

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