Ripple (XRP) Closes Last Hour Down $0.00; Heads Down For the 3rd Straight Day, Price Base in Formation Over Past 14 Days

The Hourly View for XRP

Last Updated October 31, 2020, 01:037 GMT

At the moment, XRP’s price is down $0 (-0.04%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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 closed yesterday down 1.28% ($0.0031); this denotes the 3rd straight day a decrease has occurred. The price move occurred on stronger volume; specifically, yesterday’s volume was up 89.34% from the day prior, and up 54.12% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Ripple ended up ranking 4th for the day in terms of price change relative to yesterday. Here is a daily price chart of Ripple.

XRP

Ripple Technical Analysis

The first thing we should note is that Ripple is now close to its 20 and 50 day averages, located at 0.25 and 0.25 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to view things another way, note that out of the past 10 days Ripple’s price has gone down 6 them.

Overheard on Twitter

Behold! Here are the top tweets related to Ripple:

  • From XRP_stuart:

    Probably just purchased my last bag $XRP around $0.25 The next time I will buy XRP will be below $0.10 or never again hopefully! When you have been buying XRP for years and years with nearly all your eggs in one basket there comes a time when you have to stop.Bags packed, lets go

  • From sentosumosaba:

    Ripple made an investment in ODL with MoneyGram Development fees . This is not lip service from me. This is clearly a company that believes in its vision, Believes in XRP & doing everything to build ODL liquidity. BTC media loves to spin negative and XRP holders get sucked in.

  • From Neloangelo314:

    Xrp is the back bone of the digital economy. Hence why the price is low. Wait till we cross over into that world. Its dead in this one, alive in the next one. I’m definitely going to expand you mind. Realize the digital economy is basically here. Wait a small amount longer.

For a longer news piece related to XRP that’s been generating discussion, check out:

Ripple and R3 Team Up with 12 Banks to Trial XRP for Cross-Border Payments | Ripple

#Fintech company @R3CEV trials Rippleā€™s XRP to scale liquidity, reduce costs of cross-border #payments….Rather than relying on nostro accounts to hold various currencies around the world, banks can enable real-time value exchange by using an independent digital asset.