The Hourly View for XRP
Last Updated May 25, 2021, 07:017 GMT
At the moment, Ripple’s price is up $0.01 (1.18%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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 up 25.43% ($0.2014) since the day prior, marking a reversal from the day prior — and the end of a 3 day negative run. This move happened on lower volume, as yesterday’s volume was down 26.95% from the day before — and down 25.16% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Ripple ended up ranking 5th 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 crossed above its 100 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 14 and 30 day timeframes, where price is headed down. If you’re looking to trade the primary trend, this may be a good opportunity to buy dips created by the counter trend. Or to view things another way, note that out of the past 14 days Ripple’s price has gone up 8 them. Price action traders may also wish to note the presence of a bullish engulfing pattern in the midst of the downtrend on the 90, 14 and 30 day charts, which may signal the trend is concluding.