The Hourly View for XRP
Last Updated December 10, 2020, 17:13 GMT
Currently, XRP’s price is down $0 (-0.42%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as XRP has now gone down 4 of the past 5 hours. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. 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
The back and forth price flow continues for Ripple, which started today off at 0.5832 US dollars, up 4.35% ($0.0243) from yesterday. As for how volume fared, yesterday’s volume was up 60.76% from the previous day (Tuesday), and up 58.78% from Wednesday of 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 yesterday. Here is a daily price chart of Ripple.
Ripple Technical Analysis
Notably, Ripple crossed above its 20 day moving average yesterday. Volatility for Ripple has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up 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 30 days Ripple’s price has gone up 20 them.