{"id":176800,"date":"2023-10-19T00:59:55","date_gmt":"2023-10-18T19:29:55","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=176800"},"modified":"2023-10-19T00:59:55","modified_gmt":"2023-10-18T19:29:55","slug":"is-xrps-rising-demand-good-news-for-the-bulls-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/is-xrps-rising-demand-good-news-for-the-bulls-crypto-news\/","title":{"rendered":"Is XRP&#8217;s rising demand good news for the bulls? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><i data-stringify-type=\"italic\">Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/i><\/p>\n<ul>\n<li><em>XRP possessed a bullish structure on the H4 and lower timeframe charts.<\/em><\/li>\n<li><em>The increase in demand over the past few days was an encouraging factor for the bulls.<\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/xrp\" data-wpel-link=\"internal\">Ripple [XRP]<\/a> saw weakness from the buyers over the past two weeks as prices embarked on a downtrend. The bulls faced rejection from the $0.54 resistance region.<\/p>\n<hr \/>\n<p style=\"text-align: center\">Read <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/ripple-price-prediction\" data-wpel-link=\"internal\">Ripple\u2019s [XRP] Price Prediction<\/a> 2023-24<\/p>\n<hr \/>\n<p>In <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/how-xrp-sent-usdc-out-of-the-prized-crypto-index\/\" data-wpel-link=\"internal\">other news<\/a>, Ripple replaced <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/usdc\" data-wpel-link=\"internal\">Circle [USDC]<\/a> as the fifth member of the Hong Kong Virtual Asset Consortium [HKVAC]. Yet, the report also found that USDC had a much higher network growth than XRP.<\/p>\n<p>A <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/xrp-witnesses-rejection-at-the-0-55-mark-again-as-structure-shifts-bearish\/\" data-wpel-link=\"internal\">technical analysis report<\/a> from AMBCrypto dated 12 October drew attention to the bearish bias of XRP on the 1-day chart. It also highlighted the $0.46 as a critical support level. How do the lower timeframe charts look?<\/p>\n<h4>XRP\u2019s rejection at $0.5 on Monday might be a precursor to further losses<\/h4>\n<div id=\"attachment_351705\" style=\"width: 1950px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/PP-1-XRP-price-1.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-351705\" class=\"size-full wp-image-351705\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/PP-1-XRP-price-1.png\" alt=\"XRP indicators show a conflict for next move's direction- what does the price action say?\" width=\"1940\" height=\"1099\" \/><\/a><\/p>\n<p id=\"caption-attachment-351705\" class=\"wp-caption-text\">Source: XRP\/USDT on TradingView<\/p>\n<\/div>\n<p>The move above the recent lower high at $0.489 (orange) saw XRP flip its market structure bullishly. The RSI also climbed above neutral 50. The DMI saw both the ADX (yellow) and +DI (green) jump above 20.<\/p>\n<p>Hence, the factors reflected strong bullish sentiment just 30 hours before the time of writing. Yet, things have begun to change. The OBV has been in a downtrend throughout October, and this lack of buying pressure saw prices decline to the $0.489 mark.<\/p>\n<p>The RSI, which reached a high of 65 on Monday, was at 47 and indicated bearish momentum was beginning to take control.<\/p>\n<p>The next higher low that XRP bulls must defend in the near term was at $0.4835. A move below this would shift the market structure bearishly once more and could see XRP fall to $0.46 or lower.<\/p>\n<h4>Is the spot CVD at loggerheads with the OBV?<\/h4>\n<div id=\"attachment_351731\" style=\"width: 1930px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/XRP-updated.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-351731\" class=\"size-full wp-image-351731\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"XRP indicators show a conflict for next move's direction- what does the price action say?\" width=\"1920\" height=\"1039\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/XRP-updated.png 1920w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/XRP-updated-300x162.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/XRP-updated-1024x554.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/XRP-updated-768x416.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/XRP-updated-1536x831.png 1536w\" data-lazy-sizes=\"(max-width: 1920px) 100vw, 1920px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/XRP-updated.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-351731\" class=\"size-full wp-image-351731\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/XRP-updated.png\" alt=\"XRP indicators show a conflict for next move's direction- what does the price action say?\" width=\"1920\" height=\"1039\" \/><\/a><\/p>\n<p id=\"caption-attachment-351731\" class=\"wp-caption-text\">Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinalyze.net\/ripple\/open-interest\/\" data-wpel-link=\"external\">Coinalyze<\/a><\/p>\n<\/div>\n<p>The spot CVD has climbed higher since 9 October, when prices bounced from just above the $0.47 mark. Yet, the OBV has been in a steady downtrend- but the volume indicators aren\u2019t disagreeing with one another.<\/p>\n<p>The OBV also noted a minor bounce since 9 October, but its trend has been downward in recent weeks. The spot CVD\u2019s uptrend was an encouraging factor for short-term bulls.<\/p>\n<hr \/>\n<p style=\"text-align: center\">How much are <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/100-xrp-to-usd\" data-wpel-link=\"internal\">1, 10, or 100 XRP worth<\/a> today?<\/p>\n<hr \/>\n<p>Open Interest also climbed higher over the past two days alongside prices. This signaled bullish sentiment in the market. Therefore, as things stood, it was likely that XRP could climb toward $0.5 again.<\/p>\n<p>Whether the bulls can breach this mark was unclear, but a continued uptrend on the CVD would strengthen the bullish case.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion. XRP possessed a bullish structure on the H4 and lower timeframe charts. The increase in demand over the past few days was an encouraging factor for the bulls. Ripple [XRP] saw weakness from the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":176801,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-176800","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176800","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=176800"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176800\/revisions"}],"predecessor-version":[{"id":176803,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176800\/revisions\/176803"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/176801"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=176800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=176800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=176800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}