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    Baxia Markets
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    February 17, 2022

    XRP breaks two support levels

    technical analysis top header -01

    The cryptocurrency is down 8.36% in the last two trading sessions, it broke the support level at
    $0.83651 and $0.78140 from our 61.8% and 50% Fibonacci retracements, the price is trading inside the Ichimoku cloud, which can be seen as market uncertainty.

     

    The Bollinger bands are very wide and pointing upwards, which usually indicates that the uptrend will continue in the short term, the pair could find stronger support on the 38.2% Fibonacci retracement at $0.726229 

     

    XRP Feb 17th 2022

     

    The relative strength index is at 52% which would allow the price to move freely in either direction, this might be a temporary pullback, we would have to wait and see is the pair is able to find support soon and continue the upward trend it started in early February.

     

    Our parabolic SAR indicator suggests that the price will continue the upward trend in the short term, our short and long-term moving averages recently crossed indicating an uptrend.



     

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