Baxia Markets
September 28, 2021

XPR on a general downtrend

technical analysis top header -01The cryptocurrency that uses Ripple technology started a downtrend on September 7th and has dived since; it lost more than 33% in less than 13 trading sessions, recovered some ground shortly after, but cannot reverse the downtrend.

The asset found support at the 0.85129 level, which is at the 23.6% Fibonacci retracement. The short and long-term moving averages made a cross in recent days. It also broke the 50% retracement support, which often signifies a trend change; the bleeding has not stopped since.


Ripple Sept 23rd

The Bollinger bands are slightly opening, which will likely bring higher volatility to the pair; the support level will be tested again in the short term, which will be a crucial point for the crypto’s short-term future.

The relative strength index is at 39%, which will allow the price to continue falling until it reaches an oversold status at 30%.

The price trades inside the Ichimoku cloud, signaling market uncertainty.


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cryptocurrency, trading conditions, technical analysis, trading indicator

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