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XRP

XRP skyrockets by 21% in 24 hours as Coinbase activation pushes crypto over the moon

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In the midst of Bitcoin nearing and then shattering ever major resistance level in the past few weeks, the third largest cryptocurrency has been sidelined. Ripple’s XRP has reaffirmed its third spot on the coin ladder, reawakened the bulls and is on a mammoth 6.5 percent hourly rise, unforeseen in the market.

On the back of the announcement from major American cryptocurrency exchange Coinbase, stating that New Yorkers can finally trade the cryptocurrency, XRP rose by 25 percent and this rise has since persisted. Coinbase’s announcement coincides with the biggest event currently ongoing in New York City, which, historically has led to price inclines, Consensus 2019.

Coinbase and their relationship with XRP have not been smooth, to say the least. Back when the exchange announced the inclusion of the cryptocurrency on its roster, it was marred by allegations of insider trading. Employees at Coinbase were speculated to purchase the altcoin on the cheap prior to the listing, which was denied by CEO Brian Armstrong.

Source: Trading View

The announcement was formally made earlier this week, with XRP beginning to rise at 0030 on May 14. The coin ascended from $0.325 to $0.393 in a matter of few hours, a 20.93 percent rise. After breaking the $0.4 ceiling at 1430 on the same day, minor correction bears dragged down the coin’s price to $0.385, a drop of 3.75 percent.

Following this roller-coaster movement, the coin’s recent spike began at 2300 UTC on 14 May, as the coin soared from $0.393 by 10.94 percent as it broke the aforementioned ceiling once again to reach $0.436, in a matter of three hours.

XRP has added over $4.6 billion to its market cap in the past 48-hours. At press time, the third largest cryptocurrency is valued at a whopping $18.34 billion, its highest point since November 2018.

BW.com takes the top spot in terms of XRP global volume account for 11.1 percent of the total volume in the trading pair XRP/USDT. Other notable exchanges are UpBit, ZBG, Bit-Z, and Digifinex. Notably, the only exchange that accounts for “real” XRP volume, according to the Bitwise report is Binance on the 9th spot with just 1.9 percent of trade volume.

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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