The Hourly View for XRP
Last Updated June 10, 2021, 08:017 GMT
Currently, Ripple’s price is down $0 (-0.2%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as Ripple has now gone down 9 of the past 10 hours. Regarding the trend, note that the strongest trend exists on the 100 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
Ripple closed yesterday up 5.34% ($0.0467); this denotes the 2nd consecutive day an upward move has occurred. The price move occurred on volume that was down 11.77% from the day prior, but up 59.21% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ripple ranked 5th since yesterday in terms of percentage price change. The daily price chart of Ripple below illustrates.
Ripple Technical Analysis
The first thing we should note is that the current price of Ripple is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for Ripple has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 6 out of the past 10 days.
Overheard on Twitter
Behold! Here are the top tweets related to Ripple:
- From mrnguyen007:
People asked me how do I get rich? I told them buy XRP & HODL for a few years & they will be rich! I used to buy 50 BTC back in the day when my friend & family laughs at me! And now I get the last laugh! 😆Everybody now investing XRP! 💎
- From JohnEDeaton1:
It won’t be hard for any expert technician hired by @Ripple to testify that the price of #XRP is not correlated to the announcements or activities of the company Ripple, but instead, is correlated to the price action of #Bitcoin Like it or not, #BTC drives the market.
- From FlareFinance:
The following assets will be able to be utilized on #FlareFinance:$YFLR, $YFIN, $YUSD, $FLR, $XRP, $LTC, $XLM, $DOGE, $ALGO, $ADA, $SHIB, $SANSHU, $TEL, $CEL, $BNB, and $CAKE!More assets will be able to be voted in. Stand at the ready Samurai, BETA is coming…