The Hourly View for XRP
Last Updated October 4, 2020, 03:015 GMT
At the moment, XRP’s price is up $0 (0.13%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 2 Price action traders may also wish to note that we see a doji 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 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 came into today down 0.51% ($0.0012) from the open of the previous day, marking the 4th consecutive day a decrease has occurred. This move happened on lower volume, as yesterday’s volume was down 63.8% from the day before — and down 41.71% from the same day the week before. Those trading within the Top Cryptos asset class should know that Ripple was the worst performer in the class during the previous day. Let’s take a look at the daily price chart of Ripple.
Ripple Technical Analysis
The first thing we should note is that Ripple is now close to its 20 and 100 day moving averages, which may act as price barrier for the asset. For another vantage point, consider that Ripple’s price has gone up 5 of the previous 10 trading days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Ripple:
- From CredibleCrypto:
Keep it real.$XRP price IS NOT “pre-determined.” $XRP IS NOT “backed by gold”. $XRP WILL NOT reach the prices $BTC has ($10,000+).$XRP will NOT replace the dollar.But it doesn’t need to do ANY of these things to make you and me life changing money over the next 3 years.
- From joker_xrp:
The Market Is FUCKED. All of it, Assets, Oil, Stocks and Bonds Propped Up & Inflated To Such An Extent That One Could Deem Worthless In Regards To The Current Monetary System. Gold/Digital Assets Will Back The New System. Xrp Being The Most Efficient & Liquid #XrpCommunity #Xrp🃏
- From XRPArmyNews1:
Hello @joerogan my name is Scott Powell. I love RIPPLE. I love XRP! I love all people of Earth. I love the Joe Rogan Experience. As a Demonstration of Cooperation I have been asked to request for you to have Sam @HamEggsnSam on your show. Will help you accept with a little help
As for a news story related to Ripple getting some buzz:
But it’s fintech, namely cryptocurrency and blockchain technology, that can ensure this future is a more sustainable one….In all, this makes the energy consumption of XRP 57,000 times more efficient than Bitcoin….Ultimately, as digital payments increase, so will the adoption of blockchain and cryptocurrency – presenting an opportunity for fintech to lead global finance toward a sustainable future….While cryptocurrencies are a robust eco-friendly alternative to fiat currencies, bitcoin and XRP hold very different energy footprints….XRP is green by design; as of today, the XRP Ledger is carbon net-zero and settles transactions without the high energy costs associated with proof-of-work mining.