Baxia Markets
March 18, 2022

XRP is on a 4-day winning streak

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The cryptocurrency is up 4.7% in the last four trading days and managed to break the resistance on the 38.2% Fibonacci retracement at $0.77519. The pair is now trading above the short and long-term moving average, which often indicates the continuation of the uptrend.


The Bollinger bands are wide and continue opening up, which will allow the price to continue climbing before a potential retracement. The price trades closer to the upper band, suggesting that it is getting close to being considered relatively high, but as the band continues to open, the price will be able to continue climbing.


XRP March 17th 2022


The relative strength index is at 56% which is a very neutral level after four days closing with profits. The current RSI level will allow the price to move in either direction; however, the signals we are getting are for a Buy position, which at this point is more likely.


Our parabolic SAR strengthens the long signals, and since the breakout has been completed we believe that the price could reach  $0.81520 in the upcoming trading sessions.


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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. 


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cryptocurrency, trading conditions, technical analysis, trading indicator

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