The Hourly View for XRP
Last Updated December 11, 2020, 02:038 GMT
At the time of this writing, XRP’s price is up $0 (0.74%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as XRP has now gone down 4 of the past 5 hours. 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
The choppiness in the recent daily price action of Ripple continues; to start today, it came in at a price of 0.572 US dollars, down 1.92% ($0.0112) since the previous day. The price move occurred on volume that was down 41.71% from the day prior, but up 50.85% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ripple ranked 3rd since the previous day in terms of percentage price change. 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 20 day moving average yesterday. Volatility for Ripple has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 30 days Ripple’s price has gone up 19 them.
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 CryptoBull2020:
The sentiment and responses I am getting tell me many people got into #XRP recently hoping for a parabolic move so they can dump both $XRP and SPARK token after. The market had other plans. This is great for those of us who are long term holders. The weak hands are gone!
- From XRP_Productions:
We expect #XRP to dip after the Spark token snapshot…but the market always does the opposite of what we expect…so we now expect that it will spike…but if we expect a spike, then it will definitely dip…but an expected definite dip will definitely result in a spike.
- From xrptoolkit:
It’s now less than 40h to the snapshot for the Spark distribution. As long as you hold your XRP in a supported wallet during the snapshot, you can claim your Spark anytime before 11 June 2021. You can move your XRP after the snapshot, before making the claim with your wallet 🌟
As for a news story related to Ripple getting some buzz:
Ripple-backed bitcoin and cryptocurrency exchange Bitso has announced a $62 million investment round led by venture capital firms Kaszek Ventures and QED Investors….As the founding editor of Verdict.co.uk I reported I am a journalist with significant experience covering technology, finance, economics, and business around the world.