Baxia Markets
April 30, 2022

XRP is down for the 10th consecutive session

technical analysis top header -01

The cryptocurrency lost more than 20% in the last ten trading sessions, reaching its lowest level since early February. The short and long-term moving average crossed on April 15th and the gap between those lines continues expanding. The price trades below both MA’s.


The Bollinger bands are opening up aggressively, particularly the lower band, which could act as a strong support level in the upcoming sessions, the gap between the bands will bring higher volatility in the short term. 



XRP April 29th 2022


In the last 14 session the pair broke four support levels from our 38.2%, 50%, 61.8% and 78.6% Fibonacci retracements at $0.77561, $0.73247, $0.68934 and $0.62792 respectively. The relative strength index is at 24% which is beyond the oversold status, investors might see this as an opportunity to enter the market at a low price, which could boost the price in the upcoming days.


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.

Subscribe by Email