Ripple (XRP) Price Near $0.25; Breaks Below 20 Day Average, Moves Down For the 2nd Consecutive Day, is Inching Close to 20 Day Average

The Hourly View for XRP

Last Updated October 16, 2020, 01:036 GMT

At the time of this writing, XRP’s price is up $0 (0.32%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. 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

Ripple closed the day prior down 1.28% ($0.0032); this denotes the 2nd consecutive day a decrease has occurred. The price move occurred on volume that was down 9.19% from the day prior, but up 11.63% 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 day prior. 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. For additional context, note that price has gone up 9 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 sentosumosaba:
  

  Can you imagine? Being invited to attend Swell, with so many who tried, and you don’t get out of bed to pay back those who are paying your youtube royalties. No I can’t. Don’t fault me for my strong words. I’ve put in the hours and sacrificed a lot for XRP community. I can speak.

• From KyleMacLeanX:
  

  I spent 2 yrs buying $XRP under $0.33 – It’s pointless to debate $100-$589
  – $10 makes me rich
  – It reached $3.80 last time
  – Yes this price action is dismal 😝
  – Amazon was stagnant for years
  – (Not a perfect analogy)
  – Could #XRP become the Amazon of crypto? Yes 📈

• From bitcoin_brown:
  

  There is a MEGA BULL RUN coming and you are still trying to flip unknown shitcoins on UNISWAP.Time to pack those bags 💰✅ $BTC is being decoupling
  ✅ $ETH 2.0 is imminent
  ✅ $DOT will go parabolic
  ✅ $XRP will hit $0.30
  ✅ $LINK to $1k
  ✅ $RSR to $1You know the rest 🧠

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

Ripple Chief Says Payments Firm Doubling Down on XRP After Crypto Asset Hits $2 Billion Cross-Border Milestone | The Daily Hodl

Using XRP we launched On Demand Liquidity about two years ago… Now if you look at RippleNet as a whole about 20% of all transactions on RippleNet are using XRP or ODL and they have a nominal value of about $2 billion.” Garlinghouse also highlights RippleNet customer Azimo’s use of ODL….So we’re excited by that interest from customers, we’re excited even in the quarantine customers seeing real value from that.” Last week Ripple announced the launch of its new Line of Credit (LOC) product, which allows ODL customers to leverage XRP for their transactions.