XRP traded at $1.29 on May 28 at 5 PM, representing an 8% decline from its short-term high, according to blockchain technology development company Cobot Labs. The decline followed a sustained downtrend from $1.4 on the 19th of this month to $1.26 on the 27th. Historical chart analysis identified a similar pattern from March 27, 2019, when XRP traded at $0.3 with an error score of 4.05—indicating high chart similarity under the methodology that typically ranges from 5 to 25 for XRP 30-minute charts.
XRP Declines 8% Over Ten-Day Period
XRP traded at $1.4 on the 19th of this month before entering a sustained decline that pushed the price to $1.26 on the 27th. The asset recovered slightly to $1.29 by May 28 at 5 PM but remained well below its recent high. The 8% decline from the short-term peak left XRP unable to fully reverse its losses despite the modest rebound.
Historical Chart Comparison Uses Error Score Methodology
The analysis employed an "error score" metric to measure chart pattern similarity between current and historical price data. Error scores indicate the degree of resemblance between two chart flows over a specific period—lower scores represent higher similarity. For XRP 30-minute charts, the typical error score range spans from 5 to 25 points. The current XRP chart pattern recorded an error score of 4.05 when compared to March 27, 2019 at 2 AM, falling below the typical range and indicating exceptionally high similarity.
2019 Pattern Shows Bottom Formation Followed by 50% Rally
On March 27, 2019 at 2 AM, XRP traded at $0.3 in a chart pattern matching the current configuration with a 4.05 error score. Following that point, XRP attempted a temporary rebound in early April but subsequently fell back to approximately $0.28, forming a bottom. Strong buying pressure entered the market from mid-May, driving XRP to the $0.45 range by late May and early June—representing approximately 50% gains from the bottom.
FAQ
What price did XRP reach on May 28?
XRP traded at $1.29 on May 28 at 5 PM, according to Cobot Labs. This represented an 8% decline from the short-term high of $1.4 recorded on the 19th of this month.
What does the error score indicate in XRP chart analysis?
The error score measures chart pattern similarity between current and historical price data—lower scores indicate higher similarity. XRP's current pattern recorded a 4.05 error score when compared to March 27, 2019, below the typical 5-25 range for XRP 30-minute charts.
