Ripple (XRP) Closes Last Hour Down $0.00; Heads Up For the 7th Straight Day, Price Base in Formation Over Past 90 Days, Doji and Pin Bar Patterns Appearing on Chart

The Hourly View for XRP

Last Updated October 14, 2020, 01:037 GMT

At the time of this writing, XRP’s price is down $0 (-0.08%) from the hour prior. XRP has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. 1 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 and 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 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 yesterday up 0.2% ($0.0005); this denotes the 7th straight day it has gone up. The price move occurred on volume that was up 15.37% from the day prior, but down 47.72% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Ripple ended up ranking 2nd for the day in terms of price change relative to yesterday. Let’s take a look at the daily price chart of Ripple.

Ripple Technical Analysis

Coming into today Ripple is now close to its 20, 50 and 100 day averages, located at 0.25, 0.25 and 0.25 respectively, and thus may be at a key juncture along those timeframes. 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 10 days Ripple’s price has gone up 9 them.

Overheard on Twitter

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

• From X__Anderson:
  

  It took 7 years for Amazon to become profitable. Jeff Bezos chose a strategy for Amazon that didn’t focus on short-term profit but focused on dominating the space long-term. I look at projects that are laying the rails today to dominate the market in the future. $XRP $QNT

• From XRP_OWL:
  

  I just wanted to give a shoutout to @stedas for involving me in the xrp community poll.I decided some months ago to make my own content based on my findings and never expected it to turn into this. I really appreciate it dude. Thank you.

• From 1CrypticPoet:
  

  I come from a culture that doesn’t teach the young the importance of Investing, unfortunately. I wish I would have know earlier.However, my goal is to change that. I’m creating a fork on the road and hope the new generation will follow.This is progression.
  Cheers! 🍻#XRP

For a longer news piece related to XRP that’s been generating discussion, check out:

Ripple: Over 72% of all investors believe that XRP will reach $100

A substantial majority of 72.4 percent of survey participants believe that the XRP price will reach $100 at some point in the future….39.1% would exit at a price between $10 and $50 , which means that 82% do not want to exit their XRP investment below $10….The analyst predicted a rise in the XRP price during the next bull run to up to USD 20 to 30.