Ripple (XRP) Closes Last Hour Up $0.00; Breaks Below 20 Day Average, Pin Bar Pattern Appearing on Chart, is Inching Close to 20 and 100 Day Averages

The Hourly View for XRP

Last Updated October 1, 2020, 01:038 GMT

Currently, XRP’s price is up $0 (0.12%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as XRP has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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

0.2418 (USD) was the opening price of the day for Ripple, resulting in the previous day being one in which price moved down 0.41% ($0.001) from the previous day. This move happened on lower volume, as yesterday’s volume was down 12.22% from the day before — and down 27.5% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ripple ranked 5th since the previous day in terms of percentage price change. Here is a daily price chart of Ripple.

Ripple Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Ripple crossed below its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 8 out of the past 14 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 FlareNetworks:
  

  @JoelKatz @Brother_Angelus We took the decision to exclude Jed as the consistent sales of XRP having a negative effect on the psychology of the market make it clear he is not an XRP supporter. Spark attributable to his XRP holdings are being distributed equally to all other valid claimants.

• From FlareNetworks:
  

  @JoelKatz @Brother_Angelus We do not know Jed (beyond 1 call) and have absolutely no animosity toward him or Stellar. Flare is intended to bring utility to the XRP Ledger – we reserve the right to structure the initiation of the network in the way we think necessary to achieve that objective.

• From sentosumosaba:
  

  Christine was never talking about XRP, it was all about the CBDC. Miguel failed at building XRP liquidity so ended up working for an app Co. owned by a multi-level marketing company, and Zagone just joined a company that has never been a supporter of Ripple. “Onward”

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

The Role of Blockchain and Digital Assets in Cross-Border Payments | Ripple

The fact that digital assets can provide tangible services like cross-border payments means more investors are now realizing their value, instilling a level of market confidence in these assets….Banks and financial institutions that can bring cross-border payment methods into the modern world and provide a truly frictionless experience that reduces the many pain points consumers are facing today will emerge as leaders in tomorrow’s global payment industry.