Ripple (XRP) Closes Prior Hour Up 0.08%; 3 Day Down Streak Ended, Pin Bar Pattern Appearing on Chart, Price Base in Formation Over Past 30 Days

The Hourly View for XRP

Last Updated November 1, 2020, 01:036 GMT

At the moment, XRP’s price is up $0 (0.08%) from the hour prior. XRP has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Ripple Daily Price Recap

Ripple is up 0.25% ($0.0006) since the previous day, marking a reversal from the day prior — and the end of a 3 day negative run. The change in price came along side change in volume that was down 46.11% from previous day, but up 36.54% from the Saturday of last week. Relative to other instruments in the Top Cryptos asset class, Ripple ranked 6th since the previous day in terms of percentage price change. The daily price chart of Ripple below illustrates.

Ripple Technical Analysis

Coming into today the current price of Ripple is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For another vantage point, consider that Ripple’s price has gone up 17 of the previous 30 trading days.