The Hourly View for XRP
Last Updated November 2, 2020, 01:036 GMT
Currently, XRP’s price is down $0 (-0.08%) 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. 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 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 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 closed the previous day up 0.04% ($0.0001); this denotes the 2nd day in a row an increase has occurred. This move happened on lower volume, as yesterday’s volume was down 41.05% from the day before — and down 8.02% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ripple ranked 4th since the previous day in terms of percentage price change. Below is a daily price chart of Ripple.
Ripple Technical Analysis
The first thing we should note is that the current price of Ripple is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For another vantage point, consider that Ripple’s price has gone down 6 of the previous 10 trading days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Ripple:
- From sentosumosaba:
Huge Crypto ACQUISITION of the Largest #XRP Market Maker by SBI to make / provide DEEP liquidity. Totally, an under the radar move. Throwing everything (but the kitchen sink) at this hurdle despite the US regulators being asleep at the wheel. OH! btw, Vietnam OK’s bank e-wallets.
- From WhipLash347:
QUANTUM Nesara/Gesara and all the clues “QUANTUM” Starlink Rocket launches. Q save the world video shows you USA vs ChYNa Tech war. XRP “REG” family vs BTC/ETH “NON REG”. 1776
Gold will destroy the Fed. Parscale telling you about suppressed technologies = Cures and much more.
- From Naturalmed777:
Is a financial collapse imminent and will XRP provide liquidity for a new financial system? If yes and yes then you’ll probably be very wealthy. #XLMIs the dollar going to collapse and will the new dollar and other CBDCs ride on XLM? If yes and yes you’ll be wealthy.
As for a news story related to Ripple getting some buzz:
Facing one of these questions recently, CTO of Ripple, David Schwartz, stated that a “combination of obstacles” is likely responsible for banks holding back from using XRP as a bridge asset….XRP, XRPL will be ‘bridge’ between CBDCs, says Ripple exec Ripple CEO: Looking at if we need to relocate to a country where regulations are clear Ripple’s David Schwartz sheds light on upcoming XRPL changes Ripple’s $11.3M infused funds recorded as ‘contra expense:’ MoneyGram Ripple CEO responds to Visa’s acquisition as community expects ‘strategic moves’ Ripple’s David Schwartz predicts diversification in blockchain landscape in 2020 Your email address will not be published.