The Hourly View for XRP
Last Updated July 5, 2021, 02:048 GMT
At the moment, XRP’s price is up $0 (0.03%) 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 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on XRP. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
Ripple Daily Price Recap
Ripple closed the day prior up 3.36% ($0.0226); this denotes the 2nd consecutive day an upward move has occurred. This move happened on lower volume, as yesterday’s volume was down 13.88% from the day before — and down 42.11% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ripple ranked 4th since the day prior in terms of percentage price change. Here is a daily price chart of Ripple.
Ripple Technical Analysis
The first thing we should note is that Ripple is now close to its 20 day moving averages, which may act as price barrier for the asset. 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 down. Traders will also want to note, though, that a counter trend — meaning a trend going up — can be seen on the 14 day timeframe. This may setup an interesting opportunity for traders looking to sell rallies in anticipation of the primary trend resuming. For another vantage point, consider that Ripple’s price has gone up 6 of the previous 10 trading days.
Overheard on Twitter
Behold! Here are the top tweets related to Ripple:
- From xrp_mami:
Stop marrying your bags. My slight $XRP trade for $VXV turned 42K – $80K in 2 weeks. Lets stop talking about hopes and dreams and start getting fucking paid. Im tired of this cult minded shit. Are we not here to make money. Dont you want to be free? I legit am only trying to help
- From xrp_mami:
How many of us spent years of accumulating only XRP. Imagine if you wouldve also been buying QNT or ALBT in the pennies. stop being closed minded. I love $XRP and I know its going to have enormous success long term. But its time now for us to be realistic. Be smart going fwd.
- From xrp_mami:
I find the most successful way of investing is to diversify. But not too wide. Maybe a max of 4-5 assets. Then look at the TAM. The use case. Then factor in short term spec vs long term utility. That’s a recipe to win both short & long term. $QNT $XRP $VXV $ALBT $TEL $FLR My bags
In terms of news links for Ripple here’s one to try:
XRP Ripple effect: Is this the best way to keep the SEC in check? – AMBCrypto
That’s the same with XRP.” He added, “As a matter of law, XRP itself is an asset….She added, “They [XRP holders] bought XRP because they expected Ripple to push up the value of the token so that it would be a speculative profitable investment.