Ripple (XRP) Closes Prior Hour Up 0.07%; 5 Day Up Streak Broken, Price Base in Formation Over Past 90 Days

The Hourly View for XRP

Last Updated November 19, 2020, 08:017 GMT

Currently, XRP’s price is up $0 (0.07%) 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. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on XRP. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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’s 5 day positive streak has officially concluded, as the candle from the day prior closed down 3.01% ($0.0091). The price move occurred on volume that was down 8.8% from the day prior, but up 142.04% 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 the day prior. Below is a daily price chart of Ripple.

XRP

Ripple Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Also of note is that on a 90 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 30 days Ripple’s price has gone up 17 them.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Ripple for the past day were:

  • From KiaCrypto:

    some thoughts on #XRP
    @ripple decides to buy back its own asset to help the market bla bla
    to me, it means the floor has been set.
    Next, they remove or reduce the sell walls Now, the brake is loose and the supply is limited, demand pushes the price up.
    $14 incoming

  • From CyPhlux:

    So many people getting excited over .2 cents! #xrpthestandard #XRP
    Yall! We have seen this how many times? Then it drops back down. I’m not going to get excited till we get to .50 cents at the very least. We’ve seen this broken record do this too many times.

  • From Neloangelo314:

    High stable price that the world agrees upon allows Xrp to remain high and stable for a infinite amount of time. Gold will see historic breakthroughs like never before seen. As will all precious metals. When cash becomes ash, the world will turn to crypto and precious metals.

As for a news story related to Ripple getting some buzz:

Ripple: XUMM banking app soon ready for mass adoption

Wietse Wind, the founder of XRPL Labs, has now informed the community in a new update that the last beta version 0.6.0 has been released and numerous bugs and errors have been fixed….The app was launched on March 30, 2020 and has since received numerous updates….With the new version, XUMM also shows visibly within the app as soon as there is a new update of the app.