Ripple (XRP) Closes Prior Hour Down -0.16%; Breaks Below 20 Day Average, Eyes 50 Day Average

The Hourly View for XRP

Last Updated October 29, 2020, 01:037 GMT

At the time of this writing, XRP’s price is down $0 (-0.16%) 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. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on XRP. Given that we see downtrend on the 10 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

0.2458 (USD) was the opening price of the day for Ripple, resulting in the previous day being one in which price moved down 2.77% ($0.007) from the previous day. This move happened on lower volume, as yesterday’s volume was down 19.31% from the day before — and down 61.79% 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. The daily price chart of Ripple below illustrates.

Ripple Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Ripple crossed below its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 5 out of the past 10 days.

Overheard on Twitter

Over on Twitter, here were the top tweets about Ripple:

• From WhipLash347:
  

  What is in Wuhan? Link this all to the GCR/GESARA coming. Link this to QFS. (USA VS CH Y NA TECH WAR) BTC & ETH vs XRP family. Big Pharma vs TESLA CURES, The answer is in Q Save The World Video.
  Then you will understand what POTUS means by Ch Y Na will pay big time.

• From X__Anderson:
  

  To expand on the DBS bank news. This is really big. The biggest bank in Singapore will offer trading of four cryptos, among them xrp. The bank has 24 thousand employees. The bank will hold the digital assets at the bank directly. Singapore is a major financial hub 1/2

• From CCryptosecure:
  

  Wait to you see the explosion in XRP in the coming weeks folks. The shit is going to hit the fan very shortly. You dont think BTC can go to zero. Within one day or less BTC will go to zero. You watch the panic in the FI globbering over the only game in town which will be in the

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

Beyond Proof of Work: the XRPL Consensus Solution | Ripple

As a result, system state is public: transactions are public, and everyone knows which transactions are valid and which aren’t….With such a system, validators aren’t needed to tell anyone else which transactions are valid or what transactions do….The validity of each transaction is already available to every participant.