The Hourly View for XRP
Last Updated July 22, 2021, 03:017 GMT
At the moment, Ripple’s price is up $0 (0.89%) from the hour prior. Ripple has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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
Ripple entered today at $0.5711, up 7.96% ($0.0421) from the previous day. As for how volume fared, yesterday’s volume was up 16.96% from the previous day (Tuesday), and up 49.39% from Wednesday of the week before. Relative to other instruments in the Top Cryptos asset class, Ripple ranked 3rd since the previous day in terms of percentage price change. The daily price chart of Ripple below illustrates.
Ripple Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For another vantage point, consider that Ripple’s price has gone down 7 of the previous 10 trading days. Those interested in trading off candles may wish to observe the emergence of a bullish engulfing pattern, which seems particularly noteworthy against the backdrop of a downtrend on the 90, 14 and 30 day time periods.
Overheard on Twitter
Behold! Here are the top tweets related to Ripple:
- From WKahneman:
As of today, if you owned #XRP, you could have additionally gained FLR, DFLR, & SGB, potentially drawing in value from LTC, DOGE, XLM, CSC, ADA, ALGO, BNB, CAKE, CEL, GALA, GTC, PAC, SANSHU, SHIB, TEL, USDC, USDT, XDC and even ETH, as well. That’s really quite astonishing.
- From SnyderSheridan:
I have been homeless and only live to get high. Now 17 years later I make great money and it’s all thanks to God and when #XRP #CasinoCoin #XLM moon I want to give back and help as many people as I can get off drugs and off the streets. One day this dream will come true.
- From mrnguyen007:
I beg all my friends & followers in here! Promise me one thing, when you become an XRP Millionaire, please help out your local charity so they can feed hungry children. No child in this world should go without a basic need of life. God bless you & Iove you! Love thy neighbor ❤
For a longer news piece related to XRP that’s been generating discussion, check out:
The SEC’s approach to crypto must be modified to more clearly articulate how securities laws should apply to digital assets….This general dissatisfaction with the Ripple case, often denigrated as “regulation by enforcement,” has led some to call for the development of a “Ripple test” to more clearly articulate how securities laws should apply to crypto assets….While it would probably take an act of Congress to encourage (or force) the SEC to move in this direction, a Ripple test adopting the utility token (or consumptive purpose) approach could have precluded the application of securities laws to Ripple’s XRP tokens….An alternative Ripple test could limit the scope of the SEC’s authority under the securities laws so that an interest determined by the Financial Crimes Enforcement Network (FinCEN) to be a currency is not a security….Ripple and the change would clearly preclude the SEC’s decision to act against Ripple and its XRP token….However, the federal securities laws currently provide no statute of limitations on the right of the SEC to initiate enforcement actions.