That’s in cents not dollars, though, giving the cryptocurrency that goes by the name of XRP the dramatic price action feel (somewhat) of those infamous penny stocks from Blinder Robinson that traded crazily in the 80’s. XRP had been unable to rise above the Ichimoku cloud for weeks but then got there easily on some volume. The XRP weekly price chart looks like this:XRP weekly price chart, 8 23 20. stockcharts.comLike the other cryptocurrencies, XRP has a long way to go to make it back up to the early 2018 highs. The XRP monthly price chart looks like this:XRP monthly price chart, 8 23 20. stockcharts.comThe dramatic drop in price is clearly evident on the monthly time frame — from the January, 2018 peak until the much lower present. Take a look at the moving average convergence/divergence (MACD) indicator below the price chart: the shorter-term time line is just now crossing above the longer, a positive sign on that measure.

Source: Forbes August 23, 2020 22:41 UTC