Baxia Markets
By
November 21, 2021

XRP recovers 3.85% and faces new challenges

technical analysis top header -01

The cryptocurrency is showing signs of recovery, this will allow traders to buy at a low price, the price is close to entering the Ichimoku cloud which will bring market uncertainty, but other technical indicators are showing signals for a potential long trade.

 

The Bollinger bands are no longer opening up but they are wide enough to expect high volatility, the price was trading below the lower band, which suggested that the price was relatively low, this incentivizes traders to go long on this pair and it's paying off so far.

 

XRP Nov 18th 2021

 

The relative strength index is at 45% another good indicator that the price could start a rally in the short term. The short and long-term moving averages are steady, the price trades below the lines, but this could change very soon.

 

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