Ripple (XRP) Closes Prior Hour Up 0.96%; Breaks Above 100 Day Average, Heads Up For the 2nd Consecutive Day, But Still in a Downtrend Over Past 30 Days

The Hourly View for XRP

Last Updated June 1, 2021, 03:017 GMT

At the moment, Ripple’s price is up $0.01 (0.96%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as Ripple has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. 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 yesterday up 14.99% ($0.1358); this denotes the 2nd consecutive day an increase has occurred. The price move occurred on volume that was up 46% from the day prior, but down 22.96% from the same day the week before. Ripple outperformed all 7 assets in the Top Cryptos asset class since yesterday. Congrats to its holders! Here is a daily price chart of Ripple.

XRP

Ripple Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Ripple crossed above its 100 day moving average yesterday. 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. Or to view things another way, note that out of the past 14 days Ripple’s price has gone down 8 them.

Overheard on Twitter

Behold! Here are the top tweets related to Ripple:

  • From mrnguyen007:

    Here are the reason why I believed XRP will reached $3,000 in 2024… 🤔1. FLR Token Distribution
    2. RIPPLE win or settle lawsuit
    3. Exchanges Re-listed XRP
    4. RIPPLE go IPO on Exchanges
    5. World Central Banks used XRP as bridge currency
    6. All World Banks will use XRP đź’Ž

  • From HigherManas:

    Wouldn’t surprise me if the Ripple IPO was bolted onto any settlement agreement. Not directly but side agreement. All cards on the table. Quick an easy approval after the lawsuit closes out. Lots a stake here. Escrow XRP. Ripple IPO. XRP clarity. Global monetary system waiting.

  • From JohnEDeaton1:

    The SEC is not going to win an argument that today’s #XRP is a security. Period. Much has evolved since then and there are too many independent use cases. As @attorneyjeremy1 pointed out,
    an official court ruling granting Summary Judgment in favor of @Ripple based on the

In terms of news links for Ripple here’s one to try:

Judge Denies SEC Access to Ripple’s Legal Communications

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