Ripple (XRP) Closes Last Hour Down $0.00; Price Base in Formation Over Past 90 Days, Breaks Below 50 and 100 Day Averages, in an Uptrend Over Past 14 Days

The Hourly View for XRP

Last Updated October 15, 2020, 15:16 GMT

Currently, XRP’s price is down $0 (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as XRP has now gone down 24 of the past 30 hours. 3 Price action traders may also wish to note that we see a pin bar candlestick pattern on XRP. Given that we see downtrend on the 20 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 bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Ripple Daily Price Recap

The end of a 7 day positive run has come for Ripple, which finished yesterday down 2.92% ($0.0075). As for how volume fared, yesterday’s volume was up 16.16% from the previous day (Tuesday), and up 15.08% from Wednesday of the week before. Relative to other instruments in the Top Cryptos asset class, Ripple ranked 6th since yesterday in terms of percentage price change. Let’s take a look at the daily price chart of Ripple.

Ripple Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Ripple crossed below its 50 and 100 day moving averages yesterday. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to view things another way, note that out of the past 14 days Ripple’s price has gone up 9 them.

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 sentosumosaba:

    Can you imagine? Being invited to attend Swell, with so many who tried, and you don’t get out of bed to pay back those who are paying your youtube royalties. No I can’t. Don’t fault me for my strong words. I’ve put in the hours and sacrificed a lot for XRP community. I can speak.

  • From KyleMacLeanX:

    I spent 2 yrs buying $XRP under $0.33 – It’s pointless to debate $100-$589
    – $10 makes me rich
    – It reached $3.80 last time
    – Yes this price action is dismal 😝
    – Amazon was stagnant for years
    – (Not a perfect analogy)
    – Could #XRP become the Amazon of crypto? Yes 📈

  • From bitcoin_brown:

    There is a MEGA BULL RUN coming and you are still trying to flip unknown shitcoins on UNISWAP.Time to pack those bags 💰✅ $BTC is being decoupling
    ✅ $ETH 2.0 is imminent
    ✅ $DOT will go parabolic
    ✅ $XRP will hit $0.30
    ✅ $LINK to $1k
    ✅ $RSR to $1You know the rest 🧠

In terms of news links for Ripple here’s one to try:

Ripple Escrows 55 Billion XRP for Supply Predictability | Ripple

We use Escrow to establish 55 contracts of 1 billion XRP each that will expire on the first day of every month from months 0 to 54….As each contract expires, the XRP will become available for Ripple’s use.