Ripple (XRP) Closes Last Hour Down $-0.01; in a Downtrend Over Past 14 Days, Price Base in Formation Over Past 30 and 90 Days

The Hourly View for XRP

Last Updated March 5, 2021, 00:018 GMT

At the moment, Ripple’s price is down $-0.01 (-2.12%) from the hour prior. Ripple has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Ripple Daily Price Recap

The back and forth price flow continues for Ripple, which started today off at 0.4487 US dollars, up 2.84% ($0.0124) from the previous day. This move happened on lower volume, as yesterday’s volume was down 14.2% from the day before — and down 43.74% 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. Below is a daily price chart of Ripple.

XRP

Ripple Technical Analysis

Notably, the current price of Ripple is sitting close to its 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Also of note is that on the 30 and 90 day bases price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For another vantage point, consider that Ripple’s price has gone down 6 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 BrotherXos:

    I’ve been saying all along there is a parallel hidden #XRP ledger & EVERYONE gave me hell for it. I pointed out the validators simply agree on which to present as ‘truth’ & even hypothesised that when AI arbitrage bots glitch we see the real ledger. Apologies welcome.

  • From Kevin_Cage_:

    Once again, I have not sold ANY of my long term $XRP. I have a bag I’ve been adding to for 4 years.That won’t change. I believe it will be worth 100x plus in the years ahead.It’s one of my largest bags. I hold well over 30 assets which is kind of silly, I know.

  • From xrpartisan:

    Time is running out to buy XRP at prices that will never be this low again. If you think it won’t moon, you’re listening to FUD, not facts.✅ CBDCs
    ✅ NFTs
    ✅ 5400 issued currencies on the XRPLIf you miss out, don’t say we’re lucky. We saw it coming.#XRP $XRP #XRPCommunity

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

Ripple Pilots a Private Ledger for Central Banks Launching CBDCs | Ripple

While Central Banks can tap into existing blockchains to get CBDCs up and running quickly, most ledgers are not built for payments and cannot handle the volume of transactions that a successful retail CBDC will require….A Central Bank requires more transaction privacy and control over its currency than a public ledger can offer, so will most likely opt to create a CBDC on a private ledger that can also operate at the required scale.