Ripple (XRP) Closes Prior Hour Down -0.06%; Price Base in Formation Over Past 90 Days, in an Uptrend Over Past 30 Days

The Hourly View for XRP

Last Updated November 20, 2020, 23:17 GMT

Currently, XRP’s price is down $0 (-0.06%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as XRP has now gone down 5 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on XRP. Given that we see an uptrend on the 20 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Ripple Daily Price Recap

0.3042 (USD) was the opening price of the day for Ripple, resulting in the previous day being one in which price moved up 3.61% ($0.0106) from the previous day. The price move occurred on volume that was down 13.33% from the day prior, but up 124.55% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Ripple ended up ranking 2nd for the day in terms of price change relative to the previous day. The daily price chart of Ripple below illustrates.

XRP

Ripple Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. 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. For another vantage point, consider that Ripple’s price has gone up 10 of the previous 14 trading days.