Ripple (XRP) Price Near $0.24; Moves Down For the 3rd Day In A Row

The Hourly View for XRP

Last Updated October 17, 2020, 07:016 GMT

At the moment, XRP’s price is up $0 (0.04%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as XRP has now gone down 24 of the past 30 hours. 2 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 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. With that said, traders should also note the downtrend on the 10 hourly candle timeframe, so the meaning of the candles may require further exploration. 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 down 2.4% ($0.0059) since the day prior, marking the 3rd day in a row it has gone down. This move happened on lower volume, as yesterday’s volume was down 9.84% from the day before — and down 3.74% 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. Here is a daily price chart of Ripple.


Ripple Technical Analysis

Notably, Ripple is now close to its 20, 50 and 100 day averages, located at 0.25, 0.25 and 0.25 respectively, and thus may be at a key juncture along those timeframes. For additional context, note that price has gone up 7 out of the past 10 days.