Ripple (XRP) Price Near $1.63; Crosses 20 Day Moving Average, in an Uptrend Over Past 90 Days, is Inching Close to 20 Day Average

The Hourly View for XRP

Last Updated May 18, 2021, 11:17 GMT

At the time of this writing, Ripple’s price is down $0 (-0.12%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as Ripple has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on Ripple. Given that we see an uptrend 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 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 1.495 US dollars, up 3.03% ($0.044) since the previous day. The change in price came along side change in volume that was up 0.15% from previous day, but down 0.57% from the Monday of last week. Ripple outperformed all 7 assets in the Top Cryptos asset class since the previous day. Congrats to its holders! Let’s take a look at the daily price chart of Ripple.

Ripple Technical Analysis

First things first: Ripple crossed above its 20 day moving average yesterday. 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. Or to view things another way, note that out of the past 10 days Ripple’s price has gone up 5 them.

Overheard on Twitter

Behold! Here are the top tweets related to Ripple:

• From attorneyjeremy1:
  

  Orlando City SC went up to DC United last night and came away with a gritty/ugly 1-0 win. I feel that’s what the XRP price is doing today – staying strong and getting the ugly gains against the headwinds. Somedays in life you just have to put your head down and DO WHAT IT TAKES.

• From sherpana1:
  

  Telcoin $tel will hit $1. If ADA can run from 0.05 to $2.50 and XRP can do from 0.15 cents to $1.90, almost the same supply. Tel will do it, strong fundamentals and use case. Most people will buy Tel at dollar and will think they are getting at a cheap price. Patience is the key.

• From HammerToe:
  

  @everlie_ng @DemRep3 XRP was designed by some Bitcoin developers to be a “better Bitcoin”. It was designed to do the same thing (peer to peer payments with no central authority) but without the energy usage.They then formed a company, Ripple, that went on to develop a SWIFT replacement using XRPL.

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

Ripple Partners with Sustainability Leaders to Reach Goals by 2030

(Bloomberg) — There’s an unwritten rule in global bond markets: never short Germany.But when Europe’s safest asset is in the midst of a retreat that threatens to push yields on bunds above 0% for the first time in more than two years, a paradigm shift may be underway.Toronto-Dominion Bank was forced to close its recommendation for investors to buy German bonds last week, after yields climbed above their stop-loss level….The latest jump in yields has pushed about 80% of high-grade notes sold this year below their issue price, based on data compiled by Bloomberg….Transport costs, more volatile than the other two, won’t lighten up until demand does.“Essentially what people are telling us to expect is that it’s going to be hard to get supply up to a place where it matches demand,” Rogers said, “and because of that, we’re going to continue to see some price increases over the next 12 months.”More well-known barometers are starting to reflect the higher costs for households and companies….There has been a run on the kind of polyurethane foam Wolkin uses — in part because of the deep freeze across the U.S. South in February, and because of “companies over-ordering and trying to hoard what they can.”“It’s gotten out of control, especially in the past month,” said Wolkin, vice president of operations at Atlanta-based Colgate Mattress, a 35-employee company that sells products at Target stores and independent retailers….The price of lumber, copper, iron ore and steel have all surged in recent months as supplies constrict in the face of stronger demand from the U.S. and China, the world’s two largest economies.Crude oil is also on the rise, as are the prices of industrial materials from plastics to rubber and chemicals….More capacity is coming in the form of new ships on order, but they take two or three years to build.HSBC trade economist Shanella Rajanayagam estimates that the surge in container rates over the past year could raise producer prices in the euro zone by as much as 2 percent.Rail and trucking rates are elevated, too.