The Hourly View for XRP
Last Updated March 3, 2021, 02:048 GMT
At the moment, XRP’s price is down $0 (-0.09%) 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. Regarding the trend, note that the strongest trend exists on the 50 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 0.4363 US dollars, down 2.11% ($0.0094) from the day prior. This move happened on lower volume, as yesterday’s volume was down 12.49% from the day before — and down 81.39% from the same day the week before. 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 day prior. Below is a daily price chart of Ripple.
Ripple Technical Analysis
Coming into today the current price of Ripple is sitting close to its 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone down 8 out of the past 14 days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Ripple:
- From sentosumosaba:
FINALLY!!! Japan uses crypto-asset #XRP for settlement w/ overseas business companies in Singapore!!! “It shows that it can actually be used for transactions related to settlement & we are confident that it has even greater potential in expanding the Swap market…” 1/2
- 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 XRyanP88:
I love how the die hard xrp maxies are hating on $xdc. $XRP is my favorite crypto, and my biggest bag, but if you don’t see the potential in $xdc you’re a fool, and don’t like money. The only reason I’m not buying more xrp right now is because my goal is met.
As for a news story related to Ripple getting some buzz:
The Environmental Impact: Cryptocurrency Mining vs. Consensus | Ripple
In effect, the Consensus that governs transactions of the digital asset XRP solves for the “double spend” problem without the need for energy intensive Proof-of-Work mining….All XRP is already in existence, meaning no unsustainable mining practices or additional energy is ever required to produce more, unlike other digital assets like Bitcoin and Ethereum. The unsustainable mining practices and Proof-of-Work mechanism behind Bitcoin and Ethereum are massive barriers for the more widespread adoption of cryptocurrencies.