The Hourly View for XRP
Last Updated October 28, 2020, 01:037 GMT
At the time of this writing, XRP’s price is down $0 (0%) from the hour prior. XRP has seen its price go down 5 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on XRP. Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
Ripple Daily Price Recap
Ripple entered today at $0.2528, up 1.77% ($0.0044) from the previous day. This move happened on lower volume, as yesterday’s volume was down 31.68% from the day before — and down 26.62% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Ripple ended up ranking 5th for the day in terms of price change relative to the previous day. The daily price chart of Ripple below illustrates.
Ripple Technical Analysis
First things first: Ripple crossed above its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed up. This may setup an interesting opportunity for traders looking to sell rallies in anticipation of the primary trend resuming. For additional context, note that price has gone up 7 out of the past 14 days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Ripple:
- From WhipLash347:
What is in Wuhan? Link this all to the GCR/GESARA coming. Link this to QFS. (USA VS CH Y NA TECH WAR) BTC & ETH vs XRP family. Big Pharma vs TESLA CURES, The answer is in Q Save The World Video.
Then you will understand what POTUS means by Ch Y Na will pay big time. - From BabaCugs:
You Have Five Days To Do WHATEVER You Want With YOUR XRP Bags After That, You’re All On Your Own You Know The Risks You Know Your Responsibilities You Are The Only Person To Blame For Your Life Situation I Did My Part To HelpGod Bless You All
- From X__Anderson:
To expand on the DBS bank news. This is really big. The biggest bank in Singapore will offer trading of four cryptos, among them xrp. The bank has 24 thousand employees. The bank will hold the digital assets at the bank directly. Singapore is a major financial hub 1/2
As for a news story related to Ripple getting some buzz:
Ripple Partner TerraPay to Boost Remittance Flow from Canada with FINTRAC License
Now the country wants to make remittances run seamlessly—faster and cheaper than previously….With a license from FINTRAC, the company will use its technology to make it easier for immigrants to send funds across the world and back home to their families.
