- XRP’s 1-hour trading chart signals red after ECB’s meeting.
- The coin is relatively indicating a surge in the 1-day trading chart.
- At press time, XRP trades at $0.49.
Ripple’s XRP signaled a slightly-surged green candle in the 1-day trading chart, after a downtrend in the past two days. However, the coin has steeply nose-dived in the 1-hour trading chart, specifically, following the European Central Bank’s (ECB) benchmark interest rate.
Almost, all the coins have dipped in the context of the ECB’s meeting. At the time of writing, XRP is trading at $0.49, with a 0.18% decline in the past 24 hours.
As indicated in the 1-hour trading chart (12:00 ET) above, XRP hit a lowest of $0.483 and a highest of $0.493. When it comes to the 1-day trading chart, the coin blinks a green candle, but it needs to overcome $0.502, which is past day’s high, for a further trend.
Adding on, after the recent hike of $0.558 on September 23, ETH tumbled down to $0.417 on September 28. However, the coin started climbing the stairs on October 3, before the recent fall at the beginning of October. The $0.558 spike is an ATH formed between May 10 and October 12, 2022.
The 200 EMA in the 1-day trading chart shows that XRP is at a turning point as it is in a dicey zone. If the candle hits the EMA line, the coin would again fall off the cliff. Moreover, the upcoming vital meetings by the US Federal Reserve and the Federal Open Market Committee (FOMC) today will determine the further direction of XRP’s trend.
Importantly, the uptrend that began in mid-September shows that the XRP price has been exponentially growing when compared to the May-August duration.
Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
