Crypto Technicals: XRP/USD tests 55-EMA (0.2709), break above to see further gains

XRP/USD chart - Trading View

Exchange - Kraken

Support: 0.2548 (5-DMA); Resistance: 0.2709 (55-EMA)

Technical Analysis: Bias Bullish

XRP/USD tests 55-EMA at 0.2709, breakout above to see further gains.

The pair is extending gains against weakness in Bitcoin prices, shows negative correlation.

XRP/USD was trading 3.64% higher on the day at 0.2646 at 05:20 GMT, bias turning bullish.

Price action has broken above 21-EMA, Stochs and RSI are sharply higher, RSI above 50 mark.

'Bullish Divergence' on RSI and stochs keeps scope for gains. MACD shows bullish crossover on signal line.

The pair has broken above 4H 200 SMA, eyes 23.6% Fib at 0.2772 ahead of 0.2943 (110-EMA).

Rejection at 55-EMA and break below 21-EMA will see resumption of weakness.

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