Ripple (XRP) Closes Prior Hour Down -0.55%; Makes Big Move Relative to Two Week Trend, 2 Day Up Streak Ended, Bearish Engulfing Pattern Present

The Hourly View for XRP

Last Updated February 25, 2021, 00:017 GMT

Currently, Ripple’s price is down $0 (-0.55%) 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Ripple Daily Price Recap

0.4763 (USD) was the opening price of the day for Ripple, resulting in the previous day being one in which price moved down 15.83% ($0.0896) from the previous day. The price move occurred on volume that was down 14.83% from the day prior, but up 102.02% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ripple ranked 4th since the previous day in terms of percentage price change. Let’s take a look at the daily price chart of Ripple.

XRP

Ripple Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Ripple crossed below its 20 day moving average 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 up over that time. For additional context, note that price has gone up 19 out of the past 30 days. Traders may also wish to note that there is a bearish engulfing pattern in play, which suggests the uptrend on the 30 day charts, may be slowing down and ready to reverse.

Overheard on Twitter

Behold! Here are the top tweets related to Ripple:

  • From xrp_mami:

    The minute you forget about what your coins value is in fiat. You win. This is a game of accumulation. Worry more on how many units you have vs the fiat value. If you’ve chosen the right coins. Long term you’re going to be smashing the game. $XRP $QNT $HBAR are my only 3 HODLs

  • From britishgirlxrp:

    Just sold 17k of ada for xrp. Calm down ada people. I have more 😉 I won’t believe xrp is dead until its bloody dead. Like dead dead. Very dead. Dead dead dead. Its too bloody good! Fast and cheap. Dont bullshit. Xrp – will make it so.

  • From BitrueOfficial:

    Our $XRP wallet now uses the RequireDest flag, so all deposits must have a tag or the transaction will be cancelled. No more forgetting to add a tag & waiting for your coins to be found!You still need to triple check that you’re using the CORRECT tag when sending though🙏🙏🙏

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

Ripple vs. SEC: Pre-trial conference brings out a ‘bombshell’

The XRP community’s favorite lawyer, Jeremy Hogan, covered yesterday’s pre-trial conference between Ripple and the U.S. Securities and Exchange Commission (SEC) in a new video….Ripple revealed that in 2019, the SEC was approached by “a major crypto exchange or maybe multiple exchanges” and asked, “Hey SEC, can we sell XRP or is it a security?…And the SEC didn’t tell them “no,” Hogan reported….There will be likely discovery disputes about this very issue as the SEC tries to hide and Ripple finds the details […] and what led the SEC to continue allowing exchanges to sell XRP.