• Crypto technicals: xrp/usd grinds lower, hidden divergence to plummet prices

    Source: FxWire Pro - Digital Currency / 12 Sep 2019 06:12:10   Europe/London

    XRP/USD chart - Trading View 

    Exchange - Kraken

    Support: 0.2335 (Aug lows); Resistance: 0.2627 (21-EMA)

    Technical Analysis: Bias Bearish

    XRP/USD is extending gradual grind lower, bias is still bearish.

    Major and minor trend remain bearish as suggested by the GMMA indicator. 

    Minor recovery attempts capped at 21-EMA which is stiff resistance at 0.2627.

    'Death Cross' and 'Hidden bearish divergence' to plummet prices further.

    Scope for retest of August 2019 lows at 0.2335. Further weakness eyes 0.2050 (Dec 2017 low).

    Volatility is low. Breakout at 21-EMA will see minor upside. Retrace above 200-DMA (0.3363) negates bearish bias.
     

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