The Hourly View for XRP
Last Updated October 10, 2020, 07:015 GMT
At the time of this writing, XRP’s price is up $0 (0.12%) from the hour prior. XRP has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. 3 The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
Ripple Daily Price Recap
Ripple came into today up 0.72% ($0.0018) from the open of the day prior, marking the 3rd day in a row an upward move has occurred. The change in price came along side change in volume that was up 4.56% from previous day, but down 1.07% from the Friday of last week. On a relative basis, Ripple was the worst performer out of all 7 of the assets in the Top Cryptos asset class during the day prior. The daily price chart of Ripple below illustrates.
Ripple Technical Analysis
First things first: Ripple crossed above its 50 day moving average yesterday. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 5 out of the past 10 days.
Overheard on Twitter
For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Ripple for the past day were:
- From KyleMacLeanX:
Gemhunters (I’m one) always crap on the Top 10. This is not financial advice, but I see 4 POTENTIAL 100Xs in the Top 10:? $XRP to $25
? $DOT to $400
? $ADA to $10
? $LINK to $1000None of those sound crazy to me. I will not engage with the “But marketcap” crowd today ? - From Neloangelo314:
I’d rather you spend your money on supplies that you need and #Xrp. I never ask for this because we live in tough times and I do this to help people and from the heart. Im only going to makes this post once since I have had multiple people ask me. If you
- From Janna_One_Trick:
Line of Credit will allow #RippleNet customers to source capital and grow their business@Ripple can now lend capital through ODL without FX risk and with greater flexibility than through traditional marketsIt means more XRP buying pressure with potentially high value payments
In terms of news links for Ripple here’s one to try:
Ripple: Flare CEO proposes mechanism to issue assets on XRP Ledger
In a publication titled “Closing the circle on XRP Flare Interoperability” Flare Networks co-founder and CEO Hugo Philion describe a proposal to redeem assets on the XRP Ledger….In fact, the proposal states that assets on the XRP Ledger except for XRP are called Issued Currencies (IOUs)….To issue the new token, called US Dollar Flare (USF), Philion states: The objective is then to the issue an IC on the XRP Ledger representing USF such that there is no reliance on a centralized third party when trading and redeeming back to Flare….To redeem the token on the XRP Ledger, a user must only send it to the issuing account with the Flare address to which they want to credit the funds, according to Philion.