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XRP jumps 22% after Coinbase news and ETN in Germany

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XRP is finally making moves, gaining 23% in the last 24 hours following good news from the United States and Germany. Coinbase has enabled trading XRP for residents from New York, while German stock exchange Börsse Stuttgart added a XRP ETN.

This has led to a big price jump for the third largest cryptocurrency in the space. XRP is worth $0,40 at the time of writing.

XRP holders living in New York have waited for a long time for the token to be added to Coinbase. Now finally, the platform has added buying, selling, converting, sending, receiving and storing to Coinbase for users who are New York residents. As this XRP holder below here points out, this makes it a lot easier for Wall Street Money to flow into XRP. XRP was already available for trading for other users.

Also good news for XRP was the fact that Börse Stuttgart, the second biggest stock exchange in Germany, has approved the listing of XRP and Litecoin exchange-traded notes (ETNs)’. This is a first in Germany. ETNs are regulated, transparent and protected instruments that investors can use for investing in different types of assets.

XRP holders have waited a long time for the price of the Ripple token to move. XRP was one of the worst performers compared to Bitcoin this year, but now has made a huge move of 23%, with BTC also rallying 13% at the same time, breaking $8000 after a big news day

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Source.chepicap

XRP

XRP surges by over 7% in an hour, as coin breaks out of bullish pattern

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XRP has been at the mercy of the bears in the market and has shown only a minimal recovery after the August 14 fall. However, the coin’s price shot up in the short term and breached its immediate resistance.

4-hour 

Source: Trading view

Source: Trading view

In the 4-hour chart of XRP, an ascending triangle was formed. After the massive fall on August 14, XRP’s price was observed to consolidate within the triangle and indicated a bullish breakout that could be underway. The breakout occurred on August 18 with the coin noting a growth of 8.26%, valuing the coin at $0.2861. The coin had not been able to recover from the fall and had been trading at $0.2698 as the green candle took the charge, at press time and pushed the price of the coin up.

1-hour

Source: Trading view

Source: Trading view

In the one-hour chart, XRP was forming another Ascending triangle pattern highlighting the bullish breakout to be imminent. Awesome Oscillator pointed towards a reduced bullish momentum, at press time and boosted the price of the coin to $0.2861, surpassing its immediate resistance that stood at $0.27.

Source:ambcrypto

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XRP

XRP breaks out of descending triangle as short-term prediction suggests further slump in price

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The price of XRP has been taking a hit since the fall of Bitcoin, and has been trading around $0.26. After the price broke on August 14, XRP had been observing alternate red and green candles, showing no sign of absolute recovery. Short-term prediction of XRP indicates a bearish pattern with no sign of relief.

12-hour chart

Source: Trading view

Source: Trading view

12-hour chart of XRP highlights breaking of a Descending Triangle pattern, indicating a further dip in price. The Descending Triangle extended for 36 days before breaking on the 37th day, noting a fall of 20.08% bringing the price of the coin to as low as $0.23. The coin made some recovery as the current price stands at $0.2654.

6-hour chart

Source: Trading view

Source: Trading view

As XRP broke the 12-hour pattern, it confirmed the bearish wave as it formed a bearish pennant in the 6-hour chart. The flagpole was formed following the August 14 fall of XRP, after which the price was noted to consolidate, converging into a pennant. According to the feature of this pattern, a breakout could be imminent for XRP taking the price of the coin back to the immediate support at $0.2368. The price has been consolidating over the past three days and could breakout within a couple of days.

Source:ambcrypto

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XRP

XRP’s chart indicates return of a bullish pattern. Could the price of the coin re-visit $0.76?

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The XRP’s price might have taken a hit over the past few days falling the Bitcoin dump. The coin has been moving towards stabilizing its price, but with the bears in the market, the recovery has been difficult. The short term prediction point towards a fall and rise trend in XRP’s price, while the long term prediction marks the return of an old fractal pattern.

1-Day

Source: Trading view

Source: Trading view

On September 2018, the price of the coin had slumped by almost 60% causing the value of the coin to slip from $0.6132 to $0.2450. The coin made a half recovery before falling further to $0.2700, while the support was marked at $0.2530. However, falling these tremendous falls, XRP bounced back hard with 184% growth taking the price of the coin to $0.7644.

Source: Trading view

Source: Trading view

Similarly, a fractal pattern was observed with the current trend as XRP trades at $0.2661, as the support stays strong at $0.2530. The crypto has been falling for the past few days and according to Awesome OScillator has a strong bearish hold.

However, like September 2018, the trend reversal could be underway making the price of the coin cross the long term resistance at 0.4744. If the XRP price re-traces the fractal pattern to a T, its price could breach the resistance and touch $0.7644.

Source:ambcrypto

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