Baxia Markets
April 21, 2022

XRP continues losing ground

technical analysis top header -01


The cryptocurrency lost more than 6.7% in 5 out of the last 6 trading sessions, the pair managed to break the support level on our 38.2% Fibonacci retracement at $0.76894 and is getting very close to the next support at $0.73542 on the 23.6% retracement. The short and long-term moving averages crossed in mid-April, suggesting that the downtrend would continue, which has been the case so far.


The Bollinger bands are wide and volatility should continue to be high in the upcoming trading sessions, the upper band is contracting, strengthening the short signals. The pair trades in between the bands, suggesting that the price is at a relatively fair level.


XRP April 21st 2022


The relative strength index is at 45% which will allow the pair to continue losing ground in the short term, once it gets closer to or below 30% we would expect the price to gain some ground, but there is still room to capitalize on the crypto recent loss as we expect it to continue.


We love to hear new ideas from traders and want to know what you think! 


If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.


Open Live Account  


Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 


Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.

cryptocurrency, trading conditions, technical analysis, trading indicator

Subscribe by Email