Ripple (XRP) Price Near $0.54; in an Uptrend Over Past 14 Days, 6 Day Up Streak Snapped, Bearish Engulfing Pattern Present

The Hourly View for XRP

Last Updated February 16, 2021, 00:017 GMT

Currently, Ripple’s price is down $-0.01 (-1.22%) 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. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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 end of a 6 day positive run has come for Ripple, which finished the previous day down 6.39% ($0.0405). The price move occurred on volume that was down 34.23% from the day prior, but up 13.11% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ripple ranked 5th since the previous day in terms of percentage price change. The daily price chart of Ripple below illustrates.

XRP

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 additional context, note that price has gone up 7 out of the past 10 days. Traders may also wish to note that there is a bearish engulfing pattern in play, which suggests the uptrend on the 14, 30 and 90 day charts, may be slowing down and ready to reverse.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Ripple for the past day were:

  • From MinusWells:

    #Ripple lawyers are meeting to talk around 930am CA timePlace your bets for the week by 11amThe settlement will happen & the price will explode after the VERBAL agreement, waiting for the DOCs to be published will make you miss the train 🚂 #XRP | 🧨🧨🧨

  • From XRPLLabs:

    At XRPL Labs we decided to stop primarily using the term “IOU” for issued tokens on the XRP Ledger. While some tokens issued on the XRP Ledger are indeed IOU’s (I owe you), with counter party risk, it’s also possible to issue ‘regular’ tokens. Fixed supply, NFT’s, all possible.

  • From xrpartisan:

    I’m not a maxi. I’m not telling you not to buy Bitcoin. It’s clearly shown it’s capable of getting people to buy it. But from a tech perspective it’s like buying an ancient PC from the early 1990s for more money than you’d pay for a modern Macbook Pro.#XRP $XRP #XRPCommunity

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

Jed McCaleb Sells $22 Million Worth of XRP, Ripple Cofounder’s Stash Could Run Dry by May – Altcoins Bitcoin News

by
Jamie Redman
During the last few weeks, the former Ripple executive Jed McCaleb has reportedly been selling millions of XRP tokens and every sale has been monitored by the public….On Sunday, McCaleb dumped another 38 million XRP worth $22 million after selling 95 million XRP last week worth $56 million today….Before Sunday’s 38 million XRP sale, McCaleb dumped 95 million XRP last week, and 76 million XRP the week prior.