Ripple (XRP) Price Near $0.25; is Inching Close to 20 and 50 Day Averages, Crosses 20 and 50 Day Moving Averages, in a Downtrend Over Past 14 Days

The Hourly View for XRP

Last Updated November 6, 2020, 01:038 GMT

At the moment, XRP’s price is down $0 (0%) 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on XRP. Given that we see an uptrend on the 20 and 10 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Ripple Daily Price Recap

0.2458 (USD) was the opening price of the day for Ripple, resulting in the day prior being one in which price moved up 3.32% ($0.0079) from the day prior. The price move occurred on stronger volume; specifically, yesterday’s volume was up 32.19% from the day prior, and up 0.35% from the same day the week before. Those trading within the Top Cryptos asset class should know that Ripple was the worst performer in the class during the day prior. The daily price chart of Ripple below illustrates.

Ripple Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Ripple crossed above its 20 and 50 day moving averages yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to view things another way, note that out of the past 14 days Ripple’s price has gone down 8 them.

Overheard on Twitter

Over on Twitter, here were the top tweets about Ripple:

• From Neloangelo314:
  

  Xrp won’t go up in a dying system that is still running on fiat. It’s simple. Digital things thrive in a digital age. Would you put a fine wine in a nasty bottle or a new bottle to preserve it? I use that analogy all the time. Glitches are moments of truth you get to see

• From BTCKris_:
  

  Things I trust more than late arriving ballots for Joe Biden:1. Covid death counts
  2. “Lost my Bitcoin in boating accident”
  3. Text messages from Ledger
  4. Craig saying he’s Satoshi
  5. Roger Ver’s opinions
  6. XRP is the standard
  7. Eth 2.0 is coming any day
  8. The earth is flat

• From joker_xrp:
  

  Don’t Get Caught Up In The Show. It Is All Pre-Scripted. They Are Professionals At Injecting Fear. Don’t Panic. Slow It Down And Put Your Money In The Right Places. Soon Your Cash Will Be More Worthless Than It Already Is. Rise Like A Phoenix-Xrp #XRPCommunity #Xrp 🃏

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

RippleNet (XRP) ODL as a Neutral Ground to Aide the Interoperability of CBDCs

It is currently unknown how China is planning to enhance interoperability with CBDCs from other countries….According to a recent Ripple insight, it is believed that the best CBDC will be the one which will encourage interoperability with other country’s.