The Hourly View for XRP
Last Updated February 22, 2021, 23:17 GMT
At the moment, Ripple’s price is down $-0.01 (-1.1%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as Ripple has now gone down 10 of the past 10 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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 choppiness in the recent daily price action of Ripple continues; to start today, it came in at a price of 0.5449 US dollars, up 6.36% ($0.0326) since yesterday. This move happened on lower volume, as yesterday’s volume was down 54.91% from the day before — and down 45.28% from the same day the week before. Ripple outperformed all 7 assets in the Top Cryptos asset class since yesterday. Here is a daily price chart of Ripple.
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 up. For additional context, note that price has gone up 5 out of the past 10 days.
Overheard on Twitter
Behold! Here are the top tweets related to Ripple:
- From jesse_hynes:
From the Ripple/SEC hearing, the biggest news drop was that the Defendants have proof that the SEC has had discussions with many market actors and exchanges re XRP, in 2019 and before, and never told them that XRP was a security or sold as a security. HUGE DUE PROCESS ISSUE
- From xrp_mami:
If you don’t like XRP sell. If you do then keep buying or HODL or whatever it is that you do. But complaining everyday about an investment is literally the most childish shit. folks need to grow up. If there’s gains to be made in other ALTs. Sell your bag and go buy 🙄
- From xrp_mami:
Mami Loves y’all 😘 believe me we’re going to the moon $XRP. Enthusiasm aside. The proof is in the research and the progress of companies building around the XRPL. First you connect the networks (IOV). Then you turn on the tap (liquidity). Don’t rob your future cuz of impatience.
For a longer news piece related to XRP that’s been generating discussion, check out:
The SEC’s lawsuit also led to Ripple hiring high-profile legal experts in order to defend its business….White noted in a recent interview with Fortune that the SEC may have made a big mistake in filing a lawsuit against Ripple for the alleged sale of unregistered securities….Defendants undertook this distribution without registering their offers and sales of XRP with the SEC as required by the federal securities laws, and no exemption from this requirement applied.” The suit also mentioned: “Defendants continue to hold substantial amounts of XRP and—with no registration statement in effect—can continue to monetize their XRP while using the information asymmetry they created in the market for their own gain, creating substantial risk to investors.” The suit further alleges: “Garlinghouse [and Larsen] knowingly or recklessly provided substantial assistance to Ripple’s violations of Sections 5(a) and 5(c) of the Securities Act, including by, from 2015 to the present, deciding when and how much XRP Ripple would sell, establishing the XRP Escrow, making promotional statements with respect to XRP, spearheading Ripple’s efforts to attempt to increase demand for XRP, and making his own sales of XRP.