The Hourly View for XRP
Last Updated April 9, 2021, 23:17 GMT
Currently, Ripple’s price is down $-0.01 (-1.15%) 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. Regarding the trend, note that the strongest trend exists on the 20 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
The end of a 3 day positive run has come for Ripple, which finished the day prior down 16.32% ($0.1787). The change in price came along side change in volume that was down 34.97% from previous day, but up 249.95% from the Thursday of last week. On a relative basis, Ripple was the worst performer out of all 7 of the assets in the Top Cryptos asset class during the day prior. The daily price chart of Ripple below illustrates.
Ripple Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For another vantage point, consider that Ripple’s price has gone up 9 of the previous 14 trading days.
Overheard on Twitter
Behold! Here are the top tweets related to Ripple:
- From nietzbux:
1/14: @JoelKatz video about CBDCs and NFTs set off a lightbulb for me – and I think he revealed something very important that will dispel the false narrative that Ripple’s CBDC plan does not use XRP. Also, I think finally figured out what the term “flip the switch” means.
- From vajolleratzii:
I know it’s late but I’m dropping another $XRP video in an hour detailing the entire big picture Elliott Wave count and why $100 per #XRP is possible this cycle…Yes, I said $100 is possible this cycle. But there’s a twist…Watch the video to find out😜💰
- From Kevin_Cage_:
I am not part of the #XRPArmyI am just a part of the #XRPCommunityWe are one community. I am not a MaxiI own 30+ AssetsBut I believe in $XRP massively bc I have researchedI’ll enjoy watching more people hop on the $XRP bandwagon that seem ‘surprised’ $XRP will thrive
As for a news story related to Ripple getting some buzz:
This familiar story is playing out in the U.S. Securities and Exchange Commission’s (SEC) lawsuit against cryptocurrency innovator Ripple, but the buck stops with Magistrate Judge Sarah Netburn whose discovery hearing in U.S. District Court for the Southern District of New York on Tuesday exposed the SEC’s unfounded and flawed arguments and some inconvenient truths for former SEC Chair Jay Clayton and former SEC Corporation Finance Division head William Hinman…. The hearing showed that the case the San Francisco fintech was based on an illogical premise. It alleged that XRP, the digital currency that Ripple uses for cross-border payments, has been an unregistered security since 2013 and that the SEC was just getting around to saying so on the last day of Clayton’s tenure last December. With this late in the game regulatory determination, the SEC now deems that every Ripple sale for seven years was an illegal securities trade….Back to Judge Netburn’s courtroom. Ripple requested the internal documentation to explain how and why the SEC arrived at their pronouncements as well as silence on these various coins. The SEC responded that nothing that was ever said by Clayton, Hinman or any SEC official about bitcoin or ether was that was an “official determination” on whether they are securities. It appears that Netburn is not buying the SEC’s argument that their many statements were not material.