Ripple (XRP) Price Near $0.28; Heads Down For the 2nd Straight Day

The Hourly View for XRP

Last Updated January 16, 2021, 02:046 GMT

Currently, XRP’s price is down $0 (-0.39%) from the hour prior. XRP has seen its price go down 25 out of the past 30 hours, thus creating some compelling opportunities for bears. 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 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

Ripple closed the day prior down 5.4% ($0.016); this denotes the 2nd straight day it has gone down. The price move occurred on volume that was up 0.28% from the day prior, but down 60.5% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Ripple ended up ranking 3rd for the day in terms of price change relative to the day prior. Below is a daily price chart of Ripple.

XRP

Ripple Technical Analysis

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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to view things another way, note that out of the past 10 days Ripple’s price has gone up 5 them.

Overheard on Twitter

Over on Twitter, here were the top tweets about Ripple:

  • From xrp_mami:

    I dont get why people question XRP price targets of 4 to 5 digits. Its simple supply & demand. If a group of banks send $500B in pymnt volumes a day. Theres only 45B XRP in circulation. So that alone says XRP needs to be $100 per coin. Now think derivatives. USE YOUR HEAD PPL.

  • From CryptoBull2020:

    When Ripple meets the SEC it will be a showdown between ex and current SEC Chairmen and Chairwomen (Ripple’s attorneys vs SEC). There is no doubt in my mind that #XRP will come out on top and when the news comes, whether it’s a win or a settlement, the price of $XRP will explode!

  • From X__Anderson:

    I think the issue with Ripple holding so much XRP is that regulators fear that Ripple could become the Saudi Aramco of digital assets. If $XRP would go to $100, Ripple would sit on $5.5 Trillion worth of XRP that they could use as their war chest…Think about it.

As for a news story related to Ripple getting some buzz:

Ripple plans to bring XRP ledger to central banks | Nairametrics

Recently, the US Fed Chair, Jerome Powell, recently spoke on why the U.S central bank had no reason to rush into central bank digital currencies….Alex Saunders, a crypto expert, via Twitter, released key details on why Ether coins on Crypto exchanges could be all gone within 48 hours amid high buying pressure….Published on By The world’s most powerful monetary policy chief, Jerome Powell, recently spoke on why the U.S central bank had no reason to rush into central bank digital currencies….READ: Central banks digital currencies pose a threat against the U.S dollar “Since we are the world’s reserve currency, we actually think we need to get this right, and we don’t feel an urge or need to be first,” he said….READ: Crypto usage absolutely certain – Standard Chartered “We’ve been very focused… on potential regulatory answers for global stablecoins, in particular,” said Powell in response to a question about CBDCs, or central bank digital currencies.