The Hourly View for XRP
Last Updated March 2, 2021, 00:017 GMT
Currently, Ripple’s price is up $0.01 (1.66%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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 choppiness in the recent daily price action of Ripple continues; to start today, it came in at a price of 0.416 US dollars, down 4.72% ($0.0206) since the previous day. The change in price came along side change in volume that was up 1.82% from previous day, but down 17.84% from the Monday of last week. Out of the 7 instruments in the Top Cryptos asset class, Ripple ended up ranking 4th for the day in terms of price change relative to the previous day. Below is a daily price chart of Ripple.
Ripple Technical Analysis
Notably, Ripple crossed below its 100 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Also of note is that on a 90 day basis 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
Behold! Here are the top tweets related to Ripple:
- From CryptoBull2020:
#ADA has proven my right in everything I’ve been saying: those who bought near the bottom and held until now made over 4,000%. More than anyone else. #XRP will get the same gains. So will $EOS and #ETN. Buy and hold is the best and safest way to make money in this market!
- From MackAttackXRP:
There are many coins that do well. The SEC is why my beloved XRP is stepping on the brakes. In the meantime the battle continues, I am 100% committed to XRP as I see its proper use for 1000 reasons. XRP is ready to wake up for a long Bull summer.
- From XRPeuphoria_:
My plan was never to hold ADA indefinitely (FLR will soon eat its lunch anyway)…2 mo ago I bought $3,500 worth…today I cashed out and that investment netted me another 50k XRP and another 1.5 mil TEL…ADA can continue to run, I’m content with my returns…😊
As for a news story related to Ripple getting some buzz:
Blackjack pro Steve Wynn predicts that the XRP design and increased adoption will push the coin’s price to $10,000, though some analysts make bearish comments….Comparing XRP with other cryptocurrencies, Steve said XRP is poised to take over all retail transactions and SWIFT international money transfers….In addition to his response on ways XRP differs from other cryptocurrencies, he said: “In short, it has a functional use….If Ripple continues to drive the use of ODL, among other services, XRP adoption could increase and eventually pump the coin’s price.