Ripple (XRP) Price Near $0.24; Pin Bar Pattern Appearing on Chart, 3 Day Down Streak Ended

The Hourly View for XRP

Last Updated October 18, 2020, 11:15 GMT

At the time of this writing, XRP’s price is up $0 (0.04%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 1 Price action traders may also wish to note that we see a doji candlestick pattern on XRP. Given that we see an uptrend on the 5 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 is up 0.21% ($5e-04) since the previous day, marking a reversal from the day prior — and the end of a 3 day negative run. This move happened on lower volume, as yesterday’s volume was down 51.79% from the day before — and down 45.42% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ripple ranked 4th since the previous day in terms of percentage price change. The daily price chart of Ripple below illustrates.


Ripple Technical Analysis

Notably, Ripple is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. For another vantage point, consider that Ripple’s price has gone up 17 of the previous 30 trading days.