Ripple (XRP) Closes Prior Hour Up 0.54%; in a Downtrend Over Past 30 Days, 2 Day Up Streak Ended

The Hourly View for XRP

Last Updated June 11, 2021, 20:17 GMT

At the time of this writing, Ripple’s price is up $0 (0.54%) from the hour prior. Ripple 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 0.8687 US dollars, down 5.76% ($0.0531) from the day prior. This move happened on lower volume, as yesterday’s volume was down 38.97% from the day before — and down 8.24% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Ripple ended up ranking 6th for the day in terms of price change relative to the day prior. Below is a 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. 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 30 days Ripple’s price has gone up 15 them. Price action traders may wish to observe the bearish engulfing pattern that has emerged over the past two trading days; in light of the uptrend on the 30 and 90 day charts this may be particularly noteworthy, as it may signal the uptrend is cooling and ready to reverse.

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 sonofdestinyxrp:

    Honestly, I’m so grateful! I’ve been a little quieter than normal, but I’m just reflecting on where I am right now. I’m invested in $XRP and other high quality assets, I’m with the woman of my dreams, and I’m about to be rich AF when all is said and done! $XRP family can’t lose!!