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    Baxia Markets
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    May 14, 2022

    XRP reaches lowest level in more than one year

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    The cryptocurrency sank all the way to $0.33393 during the week, the pair managed to recover a bit more than 10% in the next sessions, but it was not enough to convenience traders to buy the asset and boost the price.

     

    The Bollinger bands are very wide, and volatility will be high in the upcoming trading sessions. The pair trades closer to the lower band, suggesting that the price is relatively low; such band could act as support and prevent further losses; however, the band continues expanding, and that support is lower and lower, giving the asset the chance to go lower in the short term.

     

    XRP May 12th 2022

     

    The relative strength index is at 28%, which is already oversold. We have not seen many reactions from investors as the cryptocurrency world is taking a hit. This could be a good opportunity to buy at a low price for long-term investors.

     

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    cryptocurrency, trading conditions, technical analysis, trading indicator

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