Ripple (XRP) Closes Prior Hour Up 0.42%; Crosses 20 Day Moving Average, 4 Day Up Streak Snapped

The Hourly View for XRP

Last Updated March 11, 2021, 03:04 GMT

At the time of this writing, XRP’s price is up $0 (0.42%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as XRP has now gone down 24 of the past 30 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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 is down 4.82% ($0.0234) since the day prior, marking a reversal from the day prior — and the end of a 4 day positive run. The price move occurred on stronger volume; specifically, yesterday’s volume was up 45.7% from the day prior, and up 40.61% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Ripple ended up ranking 6th for the day in terms of price change relative to the day prior. Below is a daily price chart of Ripple.

Ripple Technical Analysis

Notably, Ripple crossed below its 20 day moving average yesterday. 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. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 8 out of the past 14 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 bgarlinghouse:
  

  Last year, @Ripple and I sued @YouTube for failing to enforce its own policies by allowing fake accounts (impersonating my/Ripple’s verified accounts) to conduct XRP giveaway scams. We’ve now come to a resolution to work together to prevent, detect and take down these scams. 1/3

• From JohnEDeaton1:
  

  #XRPCOMMUNITY, I need help for our case. If you’re aware of any use case for #XRP that doesn’t involve or depend on @Ripple, please describe that independent utility by replying to this tweet thread. Your educating me so I can maybe educate the judge 🙏Example:Staking for $

• From Milestonesfoto:
  

  If XRP goes to $1000 per #XRP regular people will not be able to privately custody XRP. The minimum in a wallet is 20 XRP that would make opening a new wallet would be $20k that can never be moved. @sentosumosaba has an idea where holders of #XRP wallet addresses becomes a market

In terms of news links for Ripple here’s one to try:

Here’s Why Ripple XRP Could Be the Crypto Option to Own Right Now | InvestorPlace

That said, investors in XRP appear to like the growth trajectory of this smaller cryptocurrency relative to its larger peers….However, XRP was designed to handle payments….Another key factor to consider is XRP’s existing global payment platform, Ripplenet….This is a decentralized network using XRP’s ledger and the XRP cryptocurrency to provide a global payments platform for users.