Ripple (XRP) Closes Prior Hour Up 0.34%; Pin Bar Pattern Appearing on Chart, Breaks Below 20 Day Average, Eyes 20 and 100 Day Averages

The Hourly View for XRP

Last Updated October 1, 2020, 19:16 GMT

At the moment, XRP’s price is up $0 (0.34%) from the hour prior. XRP has seen its price go down 12 out of the past 14 hours, thus creating some compelling opportunities for bears. 1 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

The choppiness in the recent daily price action of Ripple continues; to start today, it came in at a price of 0.2418 US dollars, down 0.41% ($0.001) since 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. 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 up. For additional context, note that price has gone up 8 out of the past 14 days.

Overheard on Twitter

Behold! Here are the top tweets related to Ripple:

  • 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 roginjohnxxx03:

    $5 / 250 Pesos Giveaway
    [ 1 Winner only ]• Must be following me , @itsKFA & @faithjahassle ✅
    • Tag 3 friends below 🏷️
    • Like and Retweet this if done ❤️♻️Ends after 30 minutes ⏳
    Goodluck everyone 🍀GCash | #TRX | #XRP | #ETH |

As for a news story related to Ripple getting some buzz:

Ripple Partners with XRP Ledger Foundation to Save Our Planet’s Environment

Together with Energy Web Foundation, Ripple has created a new open-source tool called EW Zero….It will allow any blockchain to decarbonize by acquiring renewable energy in local markets around the world.