XRP, Augur, Synthetix Price Analysis: 25 October

Sunday 25 October 2020, 11:39 PM AEST - 1 month ago

The Crypto Fear and Greed Index noted an extremely greedy figure of 76 for the day, a figure that was higher than the previous days 73. XRP was forming a bullish pattern right under a level of resistance, while Augur lacked the momentum to move the asset upwards or downwards on the charts. However, it presented a possibility that it might break out in the coming days or weeks. Further down the crypto-ladder, Synthetix was trending lower and could be set to visit lows last registered in July.

XRP PA-4-XRPUSD-2.pngSource: XRP/USD on TradingView

XRP formed an ascending triangle as it repeatedly tested the level of $0.26 over the past few days. As Bitcoin moved past $13,000, XRP also moved up with it and registered gains of near 8% over the past few days.

The price did not break out of the pattern. A confirmation would be if XRP broke out accompanied by good trading volume, with a projected upside target of $0.29.

The Awesome Oscillator also registered bullish momentum. Interestingly, this pattern also had the possibility of a breakout to the downside, invalidating the pattern. In that case, the $0.24-level could offer support.

In related news, Brad Garlinghouse, CEO of Ripple, revealed that he was considering moving to London over a lack of clear regulations with regard to cryptocurrencies in the US.

Augur [REP] PA-4-REPUSDT-2.pngSource: REP/USDT on TradingView

Augur formed a rectangle bottom (yellow). This pattern gene ...

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