Ripple (XRP) Closes Last Hour Down $0.00; 3 Day Up Streak Broken

The Hourly View for XRP

Last Updated May 4, 2021, 02:017 GMT

At the moment, Ripple’s price is down $0 (-0.07%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as Ripple has now gone down 8 of the past 10 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on Ripple. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 end of a 3 day positive run has come for Ripple, which finished yesterday down 5.45% ($0.09). This move happened on lower volume, as yesterday’s volume was down 9.25% from the day before — and down 29.36% from the same day the week before. Those trading within the Top Cryptos asset class should know that Ripple was the worst performer in the class during yesterday. Let’s take a look at the daily price chart of Ripple.

XRP

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 up. For another vantage point, consider that Ripple’s price has gone up 7 of the previous 14 trading days. Traders may also wish to note that there is a bearish engulfing pattern in play, which suggests the uptrend on the 90 and 30 day charts, may be slowing down and ready to reverse.

Overheard on Twitter

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

  • From 81367467laVynoT:

    The UN will take over. They will give the backing for #XRP to be the world currency. IMF will take control of the XRP escrows. New world order. World Government. Centralized laws from the UN. IMF is the central bank of central banks to dictate global monetary policy

  • From MoonLamboio:

    Amazing there are people that don’t think the crypto market bubble will ever again inflate to the point that it ends up popping and market drops 70% to 90%+. I’ve had people tell me #XRP will only drop 20% to 30% when the market corrects. Uhh… XRP dropped over 50% LAST WEEK.

  • From DonCryptoDraper:

    If you joined crypto today,
    psyched about getting rich tomorrow:
    – Dont APE IN
    – NO ALL IN
    – NO “high risk high rewards”
    – NO margin trade
    – NO $XRP & $DOGEGo slow, lose small, learn from people.
    Trading skills take years. DCA is safest.
    With 6 more months bullrun,
    you GMI

For a longer news piece related to XRP that’s been generating discussion, check out:

Ripple Price snaps back to trend, XRP adds 48% as Bulls Target $2.5 – Crypto Economy

Table of Contents The Ripple price is trading at over $1.60, adding 48 percent week-to-date, outperforming BTC and ETH….Judging from candlestick arrangements in the daily chart, the XRP price is up 48 percent week-to-date but stable on the last day.