Ripple (XRP) Closes Prior Hour Down -0.37%; 5 Day Up Streak Broken, in an Uptrend Over Past 14 Days, Price Base in Formation Over Past 90 Days

The Hourly View for XRP

Last Updated November 19, 2020, 04:017 GMT

At the time of this writing, XRP’s price is down $0 (-0.37%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as XRP has now gone down 8 of the past 10 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 50 hour moving average, resulting in them with price now being above it. 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 end of a 5 day positive run has come for Ripple, which finished the day prior 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. Relative to other instruments in the Top Cryptos asset class, Ripple ranked 4th since the day prior in terms of percentage price change. Let’s take a look at the daily price chart of Ripple.

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. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 7 out of the past 10 days.

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.

For a longer news piece related to XRP that’s been generating discussion, check out:

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.