Baxia Markets
November 09, 2021

XRPUSD on a three-day streak with 10.59% gains

technical analysis top header -01

The cryptocurrency managed to break the resistance at the 23.6% Fibonacci retracement of 1.20182, and it's on its third consecutive day with profits. Although we might see a retracement in the short term, the pair might still get away with more gains before it drops.

The Bollinger bands opened up aggressively in the last few sessions, the price trades above the upper band, suggesting that the price is relatively high, which could help a short-term pullback.


XRP Nov 4th 2021The relative strength index has not entered an overbought status, which indicates that the price might still move upwards a bit more before retracing. The current RSI is at 65%. Our parabolic SAR indicator suggests that the uptrend will continue in the short term.

The short and long-term moving averages are still moving upwards, strengthening the long signal; however, we do not think it will last much longer as it will enter an overbought status very soon if it continues moving up.


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