MARKET NEWS

Latest Articles

    Featured Articles

    Filter By Topic
    Baxia Markets
    By
    March 18, 2022

    XRP is on a 4-day winning streak

    technical analysis top header -01

    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.

     

    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.

     

    Try Risk-Free Demo  

     

    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