XRP/USD chart - Trading View
Exchange - Kraken
Support: 0.2058 (Sept 24 low); Resistance: 0.2521 (5-DMA)
Technical Analysis: Bias Bearish
XRP/USD was trading 2.67% lower on the day at 0.2431 at 11:30 GMT, bias strongly bearish.
Bears strongly in control, price action grinds lower capped at 5-DMA resistance.
The pair is on track to close in the red for the 4th straight week, scope for further downside.
Volatility is rising and price action is now extending below daily cloud and major moving averages.
Momentum studies are bearish. RSI is well below 50 mark and biased lower, MACD and ADX support weakness.
Lower weekly BB at 0.2311 is immediate support. Break below opens downside till 0.2055 (Sept 24 low).
5-DMA is immediate resistance at 0.2521. Bearish invalidation likely above 21W EMA at 0.2902.
