# Crypto Technicals: XRP/USD consolidates Monday's spike, finds stiff resistance at daily cloud

By Anupama Grandhi

Canonical URL: https://www.tokenpost.com/news/investing/4698
Published: 2020-01-07T10:08:01.000Z
Updated: 2020-01-07T10:08:01.000Z
Section: Investing

> Support: 0.2038 (5-DMA); Resistance: 0.2271 (daily cloud)

[XRP/USD](<https://www.tradingview.com/symbols/XRPUSD/>) chart - Trading View

Exchange - Kraken

Support: 0.2038 (5-DMA); Resistance: 0.2271 (daily cloud)

Technical Analysis: Bias Bullish

XRP/USD was trading 3.63% lower on the day at 0.2151 at 09:50 GMT, bias bullish.

The pair is consolidating the spectacular spike on Monday's trade and is holding above 50-DMA support.

Price action finds stiff resistance at daily cloud and is currently consolidating around 55-EMA.

Technical indicators support gains, momentum is with the bulls. 'Bullish Divergence' on Stochastics adds to the upside bias.

Break into daily cloud eyes 110-EMA at 0.2403 ahead of 23.6% Fib at 0.2529.

5-DMA is immediate support at 0.2038. Retrace below 200H MA (0.1957) negates bullish bias.

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## Links in this article

- [XRP/USD](https://www.tradingview.com/symbols/XRPUSD/)
- [TokenPost](https://www.tokenpost.com)