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, 01:037 GMT

Currently, XRP’s price is up $0 (0.25%) from the hour prior. XRP has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Ripple Daily Price Recap

Ripple closed the day prior down 2.4% ($0.0059); this denotes 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. 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

The first thing we should note is that 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. Or to view things another way, note that out of the past 30 days Ripple’s price has gone up 17 them.