Baxia Markets
February 05, 2022

XRP breaks resistance at $0.65811

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The cryptocurrency is on a three-day winning streak where it has managed to make 10.67%. The pair is now trading above the short-term moving average, which often indicates the beginning of an uptrend.


The Bollinger bands are shrinking, which indicates that there could be lower volatility in the short term, the pair trades in between the bands, which would allow the price to continue the uptrend for the short term.


XRP Feb 3rd 2022


The relative strength index is at 48% which would also set the right conditions for the price to continue going up, once it gets closer to 70% we would consider closing the position as it would be overbought.


The next resistance level is at 0.72629 at our 32.8% Fibonacci retracement, if the price manages to break it, we would expect the price to go higher, possibly to the 0.77 levels.


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