Ripple (XRP) Closes Prior Hour Down -0.98%; Makes Big Move Relative to Two Week Trend, Moves Up For the 2nd Day In A Row, But Still in a Downtrend Over Past 30 Days

The Hourly View for XRP

Last Updated January 8, 2021, 22:17 GMT

Currently, Ripple’s price is down $0 (-0.98%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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 is up 30.02% ($0.0748) since the previous day, marking the 2nd day in a row an increase has occurred. The price move occurred on stronger volume; specifically, yesterday’s volume was up 93.54% from the day prior, and up 273.94% from the same day the week before. Ripple outperformed all 7 assets in the Top Cryptos asset class since the previous day. Congrats to its holders! Let’s take a look at the daily price chart of Ripple.

XRP

Ripple Technical Analysis

First things first: Ripple crossed above its 20 and 200 day moving averages yesterday. 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 additional context, note that price has gone down 18 out of the past 30 days.

Overheard on Twitter

Behold! Here are the top tweets related to Ripple:

  • From bgarlinghouse:

    Q: Did you pay exchanges to list XRP? When will it be relisted? XRP is one of the most liquid (top 3-5) digital assets globally, and 95% is traded outside the US. Ripple has no control over where XRP is listed, who owns it, etc. It’s open-source and decentralized. 3/10

  • From bgarlinghouse:

    Q: Why didn’t Ripple settle with the SEC? Can’t get into specifics, but know we tried – and will continue to try w/ the new administration – to resolve this in a way so the XRP community can continue innovating, consumers are protected and orderly markets are preserved. 2/10

  • From GiveAwayHost:

    $YFI 30k supply, no innovation, current price 30,000$
    $VRX 50k supply, top innovation, AI+Crypto, use case, passionst teampresale price ~10-18$$VRX in few months later:$btc $eth $dnt $xrp $egld $ada $nano $xlm $link $loom $xtz $dgb $sc $xvg $frm $dnt #1inch $wise $dta $rook

For a longer news piece related to XRP that’s been generating discussion, check out:

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.