Ripple (XRP) Price Near $0.24; Crosses 50 Day Moving Average, Moves Down For the 2nd Straight Day

The Hourly View for XRP

Last Updated October 30, 2020, 01:037 GMT

Currently, XRP’s price is down $0 (-0.29%) 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 100 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 is down 1.38% ($0.0034) since the day prior, marking the 2nd straight day a decrease has occurred. The change in price came along side change in volume that was up 27.91% from previous day, but down 53.96% from the Thursday of last week. Out of the 7 instruments in the Top Cryptos asset class, Ripple ended up ranking 6th for the day in terms of price change relative to the day prior. Below is a daily price chart of Ripple.

Ripple Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Ripple crossed below its 50 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For another vantage point, consider that Ripple’s price has gone up 7 of the previous 14 trading 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 XRP_stuart:
  

  Probably just purchased my last bag $XRP around $0.25 The next time I will buy XRP will be below $0.10 or never again hopefully! When you have been buying XRP for years and years with nearly all your eggs in one basket there comes a time when you have to stop.Bags packed, lets go

• From Neloangelo314:
  

  Xrp is the back bone of the digital economy. Hence why the price is low. Wait till we cross over into that world. Its dead in this one, alive in the next one. I’m definitely going to expand you mind. Realize the digital economy is basically here. Wait a small amount longer.

• From Neloangelo314:
  

  So if Xrp is here during the rise of the golden age/digital age, and the blackouts/market crash is the catalyst and all that is entailed with it. Then you can infer within that darkness, that spark of Xrp will be birthed. 🔥 to spark that green vertical line straight up.

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

Ripple and R3 Team Up with 12 Banks to Trial XRP for Cross-Border Payments | Ripple

#Fintech company @R3CEV trials Ripple’s XRP to scale liquidity, reduce costs of cross-border #payments….Rather than relying on nostro accounts to hold various currencies around the world, banks can enable real-time value exchange by using an independent digital asset.