Ripple (XRP) Up $0.0035 On 4 Hour Chart, Outperforms All Top Cryptos to Start the Day; Price Base in Formation Over Past 90 Days

Ripple 4 Hour Price Update

Updated August 01, 2020 07:18 AM GMT (03:18 AM EST)

Ripple closed the last 4 hour candle up 1.34% ($0.0035); this denotes the 4th candle in a row an upward move has occurred. Out of the 5 instruments in the Top Cryptos asset class, Ripple ended up ranking 2nd for the four-hour candle in terms of price change relative to the last 4 hour candle.

Ripple Daily Price Recap

Ripple came into today up 6.3% ($0.0154) from the open of yesterday, marking the 7th day in a row an upward move has occurred. The price move occurred on volume that was down 7.2% from the day prior, but up 86.72% from the same day the week before. On a relative basis, yesterday was pretty good: Ripple bested all 5 of the assets in the Top Cryptos class 🙂 Here is a daily price chart of Ripple.

XRP

Ripple Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For another vantage point, consider that Ripple’s price has gone up 9 of the previous 10 trading days.

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 davidgokhshtein:

    We have a $XRP giveaway! 😎So – I will give someone $50 in $XRP in the next 12 hours – all you have to do is re-tweet this and follow myself & @issaAfrican Tag someone and good luck! 🚀

  • From criminalton:

    After XRP explodes, all those fools you tried to get into crypto will be knocking on your door with some bullshit excuse of why you need to give them money. What are you gonna say?
    Me, “I sold that scam shit a long time ago”.
    I will hop into my old Chevy and leave for good.

  • From TheCryptHawk:

    #XRP – Ran some historical data. We’re playing the early wave 1 algo of 2017. We should go for 0.29 wick, hold around 0.25-26 and straight to 0.45 before retrace 0.34 or so and shoot up to 0.62! Will be fun … #XRPCommunity

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

The Environmental Impact: Cryptocurrency Mining vs. Consensus | Ripple

In effect, the Consensus that governs transactions of the digital asset XRP solves for the “double spend” problem without the need for energy intensive Proof-of-Work mining….All XRP is already in existence, meaning no unsustainable mining practices or additional energy is ever required to produce more, unlike other digital assets like Bitcoin and Ethereum.  The unsustainable mining practices and Proof-of-Work mechanism behind Bitcoin and Ethereum are massive barriers for the more widespread adoption of cryptocurrencies.