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    Baxia Markets
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    April 01, 2022

    XRP on a 3-day losing streak

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    The cryptocurrency is down 10.2% in the last three trading sessions after finding a strong resistance at $0.9108, the pair broke the support level on our 23.6% Fibonacci retracement and got very close to the 38.2% retracement earlier in the session. The price trades below the short-term moving average and found support at our long-term moving average. 

     

    The Bollinger bands are wide and steady and volatility should be high in the upcoming trading sessions, the pair trades in between the bands, suggesting that the price is at a fair level. Our parabolic SAR indicator suggests that the price will continue to fall in the short term.

     

    XRP March 31st 2022

     

    The relative strength index is at 50%, dropping from 68% in only three days, this will allow the pair to move in either direction in the upcoming sessions, but the downwards trend is more likely to continue in the short term unless XRP is able to recover some ground and breaks the $0.82847 price level which is the new resistance.

     

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