Ripple’s Digital Currency XRP Forms Lower High! Set to Return to Downside?

2018-10-18 18:44

While the market leader Bitcoin has returned to consolidation with low volume trading, the third largest cryptocurrency by market capitalization has been making some significant movements. Ripple’s digital currency had been on a downward spiral since a bearish divergence occurred between price and RSI at the start of October. The divergence sparked a drop from $0.58 to a low of $0.29.

It had since started making movements back up but yesterday priced in a high around $0.47. Price action has dropped since forming this high and is currently trading around $0.45. The rise looked like it had the potential to change the market structure into higher highs and higher lows which would be a bullish scenario for XRP.

With the last high on XRP’s decline being at $0.49, XRP has failed to surpass it and maintains in a trend of lower lows and lower highs. Unless there is an upward movement sparked from here, the next move downward may very likely drop below the low close of $0.37. This would continue the series of lower lows and lower highs we have been seeing since the bearish divergence. The bullish factor being seen today is that today’s drop is on low volume showing little volume behind it. The market leader Bitcoin is likely to have a large impact on the direction of the next move as it represents 54% of the total market cap.

XRP Daily Price Action & Market Structure. XRP Daily Chart – Source: Tradingview.com Key Takeaways: Downward spiral sparked in early October for XRP after bearish divergence occurring. XRP rose after the decline and looked likely to change market structure to higher highs and higher lows. Has failed to overcome key point to change market structure. Next decline could drop below last low close around $0.37. Today’s drop is on low volume showing small strength behind it. DISCLAIMER: Investing or trading in digital assets, such as those featured here, is extremely speculative and carries substantial risk. This analysis should not be considered investment advice, use it for informational purposes only. Historical performance of the assets discussed is not indicative of future performance. Statements, analysis, and information on blokt and associated or linked sites do not necessarily match the opinion of blokt. This analysis should not be interpreted as advice to buy, sell or hold and should not be taken as an endorsement or recommendation of a particular asset.

Ripple’s Digital Currency XRP Forms Lower High! Set to Return to Downside? was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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Ripple (XRP) на Currencies.ru

$ 3.0774 (+1.12%)
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Изменеия 24h: 1.30 %, 7d: -2.60 %
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Источник: blokt.com

ripple currency → Результатов: 122


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2018-10-17 21:30


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NEXT STEP! Mars Blockchain Summit NYC to Be Held on October 18, 2018

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2018-10-12 01:00


XRP Crashes 40% From September High

This year has been a strange one for XRP (and digital currency in general!), the token has seen fluctuation after fluctuation and the price has never stayed in one area for a long period of time. The token, owned and designed by Ripple, has recently seen a change in price over the past month and even a time when we thought that the bad times were essentially over but now it has crashed down by over 40% from its high in September of $0.

2018-10-11 12:30


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Why Tokyo Could Set The Stage For XRP Adoption

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2018-10-8 13:30


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SEC Loopholes That Could Impact XRP

XRP, the native currency to the Ripple project and no doubt the United States Securities and Exchange Commission’s’ (SEC) worst enemy (after the Bitcoin ETF of course). The problem with XRP is that within the US, a number of people are taking Ripple to court for dealing an unregistered security (XRP), but, nobody is able to define whether or not XRP is actually a security, therefore the SEC are left in limbo.

2018-8-23 15:30


Netcoins Lists Ripple’s XRP Coin Allowing 21,000 Locations to Accept Payments

After a difficult week in the virtual currency world, XRP had arranged some important partnerships to keep increasing its presence in the market. On August 13, 2018 Mark Binss, CEO of Netcoins, an important Virtual Bitcoin ATM provider for retail stores, informed that they listed XRP on their trading platform. That means that individuals from […]

2018-8-14 01:13


Ripple’s Crypto Community is Urging Binance Exchange to Enlist XRP as Base Currency

XRP’s Community Pushing for Binance to Adopt XRP as Base Currency Binance is running well, as it currently has a 24-hour trade volume that is worth $1.108 billion. The exchange trades base currencies such Bitcoin (BTC), Ethereum (ETC) and Tether (USDT) and even its Binance Coin (BNB). The XRP community has taken another step, and […]

2018-8-12 00:11


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