2018-11-12 18:09 |
Ripple’s XRP is one of the altcoins performing strongly today as we start the week. Performances from altcoins have been mixed today with some showing strong performances above 10% and others depreciating.
XRP is pricing in a Marubozu candle so far today. A Marubozu candle is a candle with a long body and little or no wicks showing strong movement in one direction. XRP has increased from around $0.5 to $0.525 so far today, but amid strong buying momentum, the price is likely to be changing quickly.
Prior to this pump, XRP priced in a higher low around $0.49. If the rise we are seeing today can bring price above $0.55, a higher high will be formed leading to a very bullish market structure.
XRP Daily Chart – Source: Tradingview.comThe hourly chart shows an enormous price surge taking place over the place of a number of hours in XRP. There doesn’t seem to be any clear news catalyst for the price rise. There was a steady rise over the space of two hours, and FOMO may have resulted in a huge influx of traders seeking to buy XRP.
XRP Hourly Chart – Source: Tradingview.com Key Takeaways: XRP surges today with no clear catalyst. Daily candle for XRP is forming a Marubozu showing strong upward momentum. A rise above $0.55 would price in a higher high and form a very bullish market structure. 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 XRP Price Spikes 4% was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.
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