The Hourly View for XRP
Last Updated March 2, 2021, 02:048 GMT
At the moment, 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 20 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 back and forth price flow continues for Ripple, which started today off at 0.4457 US dollars, up 7.14% ($0.0297) from the previous day. The change in price came along side change in volume that was up 4.26% from previous day, but down 81.89% from the Monday of last week. Out of the 7 instruments in the Top Cryptos asset class, Ripple ended up ranking 4th for the day in terms of price change relative to the previous day. The daily price chart of Ripple below illustrates.
Ripple Technical Analysis
Notably, Ripple crossed above its 100 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to view things another way, note that out of the past 10 days Ripple’s price has gone down 6 them. Those interested in trading off candles may wish to observe the emergence of a bullish engulfing pattern, which seems particularly noteworthy against the backdrop of a downtrend on the 14 day time periods.
Overheard on Twitter
Over on Twitter, here were the top tweets about Ripple:
- From CryptoBull2020:
#ADA has proven my right in everything I’ve been saying: those who bought near the bottom and held until now made over 4,000%. More than anyone else. #XRP will get the same gains. So will $EOS and #ETN. Buy and hold is the best and safest way to make money in this market!
- From MackAttackXRP:
There are many coins that do well. The SEC is why my beloved XRP is stepping on the brakes. In the meantime the battle continues, I am 100% committed to XRP as I see its proper use for 1000 reasons. XRP is ready to wake up for a long Bull summer.
- From XRPeuphoria_:
My plan was never to hold ADA indefinitely (FLR will soon eat its lunch anyway)…2 mo ago I bought $3,500 worth…today I cashed out and that investment netted me another 50k XRP and another 1.5 mil TEL…ADA can continue to run, I’m content with my returns…😊
As for a news story related to Ripple getting some buzz:
Ripple escrow: Unraveling the mystery – XRPArcade
Every month, one of these 1 billion escrows would expire, returning the 1 billion XRP to Ripple….Ripple could then use that XRP or return a certain amount to a new escrow….When Ripple first escrowed the 55 billion XRP, it used 11 different wallets, each holding 5 billion XRP in escrows.