Baxia Markets
December 22, 2021

Could this be the beginning of a really for XRP?

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The cryptocurrency managed to break the resistance at the 0.8568 level from out 61.8% Fibonacci retracement, it reached the $0.90 and continues to go higher, at this stage the price is trading high and even with a chance of it going higher, it's time to close the long positions.


The Bollinger bands continue shrinking and the pair trades closer to the upper band, suggesting that the price is relatively high, this could potentially signal traders to close their positions and start going short, the pair would find a new resistance at $0.96371 on the 50% Fibonacci retracement if this level is broken and confirmed we would expect a trend reversal.


XRP Dec 9th 2021


The relative strength index is at 55% which is very neutral, the price could continue to go up beyond the upper Bollinger band but that would be taking unnecessary risks, the price could move in either direction at the current RSI level.


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