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Trading Signals for XRP: October 12

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The relative strength index (RSI) is in the oversold region with it signal pointing up suggesting upward momentum as the bulls return to the market XRP

Dominant bias for RIPPLE (XRP) – Bearish

Resistance Levels – 0.5000 $0.5500, $0.6000

Support Level – $0.3500, $0.3000. $0.2500

 

Ripple’s journey to the south started on 30th September. It got a final confirmation today. The break of the 200 exponential moving average by a large bearish engulfing candle gave credence to the bears’ journey. Pullbacks to the resistance area after each drop in price occurred until the break of the 200 EMA. These are necessary for the market correction.

 

XRP 12 Oct

XRP 12 Oct

 

The first pullback denoted by PB1 occurred on 1st October as XRP dropped to $0.5311 while it pullback up to $0.5960 same day. The second pullback was on 3rd October with the cryptocurrency down to a low of $0. 5067 and retraced back up to $0.5496 with a doji on 4th October.

The third pullback (PB3) occurred on 6th October at $0.4712 when bullish railroad pattern was formed at the support area and pullback to $0.5020 on 8th October

XRP was down to $0.3892 in the support area earlier today. Pull back to $0.4300 area may occur. This will pave way for the bears comeback that may drop XRP to $0.3000 in the support area. The presence of a bearish reversal candle pattern will confirm the bears’ return

The relative strength index (RSI) is in the oversold region with it signal pointing up suggesting upward momentum as the bulls return to the market

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XRP Long Term Trading Signals: 22 October

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XRP long-term outlook is a bullish trend. The rejection of bears further downward pushes of XRPUSD since 11th October. XRP Long-term price analysis

Bias for XRP – Bullish

Resistance Levels – $0.5000, $0.6000, $0.7000

Support Levels – $0.2000, $0.1000. $0.0500

 

XRP long-term outlook is a bullish trend. The rejection of bears further downward pushes of XRPUSD since 11th October after the large bearish engulfing candle returned the bulls whose pressure has put XRP in a vantage position for the much-awaited journey to the moon.

 

 

Increased bullish momentum pushed XRPUSD to $0.4488 on 12th October and further up to  $0.5250 in the resistance on 15th October but later closed lower at $0.4605 due to the bears’ strong comeback.

The bears increased momentum dropped the cryptocurrency further down to $0.4561 at the support area on 20th  October but lost momentum as the candle closes as a bullish railroad.

Price is above the two EMAs which indicates bullish pressure and the stochastic oscillator at 60% which implies upward price movement in the long-term.

The pattern of XRPUSD is an M with the right arm currently forming. $0.6500 in the resistance may be the bulls target in the long-term

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Gates Foundation partners with Ripple and Coil

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The Bill and Melinda Gates Foundation is partnering with Ripple Labs Inc and digital payments firm Coil to actualize the Interledger Protocol

The Bill and Melinda Gates Foundation is partnering with Ripple Labs Inc and digital payments firm Coil to actualize the Interledger Protocol, the Foundation’s Deputy Director and Principal Technologist Miller Abel tweeted Oct. 17.


Aside from the execution of Ripple’s Interledger Protocol, or, in other words, interface diverse payment ledgers and empower the quicker processing of cross-border exchanges, the association is set to investigate the manners in which Mojaloop can bolster “pro-poor payment frameworks.”

 

 

Mojaloop was propelled by the Gates Foundation in October a year ago and utilizes Interledger technology. It is an open-source mobile payment stage for financial associations, government regulators and other fintech industry players outfitted to promote mobile payments in the creating world and provide financial administrations for unbanked individuals around the globe.

 

As indicated by information from the World Bank, in 2017 there were around 1.7 billion grown-ups who were, in fact, unbanked, or, in other words of the worldwide populace. The greater part of them live in low and center income developing markets and don’t have strict access to normal banking because of an absence of clear distinguishing proof data.

 

Coil, which was established by previous Ripple CTO Stefan Thomas, is additionally founded on Interledger technology. The subscription stage enables clients to fiscally bolster content designers notwithstanding controlling promotions and streamlining the site paywall process.

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XRP Long Term Trading Signals: 15 October

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XRP long-term outlook is a bearish trend. The bears' journey to the south looks smooth with the break of the 34 EMA on 11th October. XRP price analysis

Bias for XRP – Bearish

Resistance Levels – $0.5000, $0.6000, $0.7000

Support Levels – $0.2000, $0.1000. $0.0500

 

XRP long-term outlook is a bearish trend. The bears’ journey to the south looks smooth with the break of the 34 EMA on 11th October with a large bearish marubozu candle and the cryptocurrency dropped to $0.3776 in the demand area.

Pullback due to the bulls return was a brief one as the cryptocurrency was up to $0.4488  in the supply area on 12th October but closes below the 34 EMA. The pullback was necessary for the market correction before downtrend continuation.

 

RIPLLE LT CHART 15 Oct

RIPLLE LT CHART 15 Oct

 

The bears are obviously back after the retest at the 34 EMA this was confirmed with the gravestone doji on 13th October.

$0.3519 in the demand area may be attained as the bearish momentum increase more candles formed and closed below the 34 EMA.

A break of $0.3519 and retest would pave the way for a drop in XRP price to $0.2672 in the demand area that it tested on 14th August and 12th September.

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