Ripple (XRP) Price Near $0.26; in a Downtrend Over Past 30 Days

The Hourly View for XRP

Last Updated January 7, 2021, 03:017 GMT

At the time of this writing, Ripple’s price is down $0 (-0.5%) 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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

0.2492 (USD) was the opening price of the day for Ripple, resulting in yesterday being one in which price moved up 10.17% ($0.023) from yesterday. As for how volume fared, yesterday’s volume was up 80.38% from the previous day (Tuesday), and up 4.07% from Wednesday of the week before. Relative to other instruments in the Top Cryptos asset class, Ripple ranked 3rd since yesterday in terms of percentage price change. Let’s take a look at the daily price chart of Ripple.

XRP

Ripple Technical Analysis

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. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For another vantage point, consider that Ripple’s price has gone down 19 of the previous 30 trading days.

Overheard on Twitter

Over on Twitter, here were the top tweets about Ripple:

  • From susietrader:

    I just can’t understand this XLM gets 1 Central Bank -Ukraine very inconsequential I have to stay in the scheme of the banking world goes up 150% & XRP has millions of clients has done all the right things compliance etc & yet the est’t, people just want to run it into the ground

  • From Neloangelo314:

    Take a deep breath. Take it all in. All that is going on. Now you know why there will be a gnashing of teeth. All of those who sold out of Xrp? Will feel played and betrayed. Their fate will be worse than those who only stayed in bitcoin. Why? They had the chosen one

  • From stedas:

    I think that the XRP community is currently going through the same hard times as early bitcoiners went throughFear, uncertainty, excitement and doubt all over the placeIf you didn’t do the research you might sell it, but if you did you will know what you are holding.#xrp

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

Uphold CEO: SEC’s Ripple lawsuit costing ‘completely innocent folks’ billions | Modern Consensus.

Aside from threatening Ripple—the SEC wants to claw back the entire $1.34 billion the company and its executives made selling XRP over the last seven years—the agency’s lawsuit has crushed many small investors who bought the fourth-largest cryptocurrency….If each XRP sale was a security sale they should have stopped them 7 years ago.” That is an argument that has been made by Ripple executives, and not just since the SEC lawsuit was filed….That doesn’t make any sense.” Schwartz repeated that point on the day the SEC filed its suit, tweeting: “The United States is one of the few countries where regulators will, after years of you operating in full light of day and frequently updating them on everything you’re doing, turn around and tell you that you should have known you were breaking decades old laws all along.” Or as Ripple General Counsel Stuart Alderoty put it in a Dec.