Ripple (XRP) Closes Last Hour Down $0.00; 2 Day Up Streak Ended

The Hourly View for XRP

Last Updated June 2, 2021, 10:17 GMT

At the moment, Ripple’s price is down $0 (-0.29%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as Ripple has now gone down 5 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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 $1.01, down 3.07% ($0.032) from the day prior. This move happened on lower volume, as yesterday’s volume was down 18.22% from the day before — and down 41.92% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ripple ranked 6th since the day prior in terms of percentage price change. Below 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 down. Or to view things another way, note that out of the past 10 days Ripple’s price has gone down 6 them.

Overheard on Twitter

Behold! Here are the top tweets related to Ripple:

• From HigherManas:
  

  Markets are looking good. Solid finish for $XRP and many others on the monthly close. Entering June with some big events in front of us – G7 meetings, Flare Network launch, potential Ripple lawsuit settlement, more pressure for regulations, & much more. #Crypto momentum 🚀

• From mrnguyen007:
  

  Read my lips 💋XRP will be the 1st Crypto Assest to get clarity & cleared regulation from the US Government after the lawsuit ended. 💎 🇺🇸Expect the price to go parabolic up north to $20.00 on the day the lawsuit ended! 😉

• From RippleXrpie:
  

  Dogecoin showed us that everything is possible in the crypto space. The relisting is next step after the SEC case. #XRP will pump in minutes to $10. It sounds crazy but XRP can pump to $100+ this year!

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

SEC loses bid for Ripple legal docs in $1.38 billion XRP battle | Reuters

U.S. Magistrate Judge Sarah Netburn of Manhattan ruled on Sunday that Ripple did not waive attorney-client privilege when it argued in March, in an answer to the SEC’s complaint accusing the company of selling unregistered securities, that the SEC failed to provide clear notice of whether XRP was subject to federal securities laws….The commission contended last month in a letter brief to Netburn that Ripple’s affirmative fair use defense had put all of the company’s legal advice about XRP at issue….But the SEC argued in its letter brief to Netburn that it needed to see hundreds of additional legal documents for which Ripple was still claiming privilege in order to disprove the company’s fair notice defense.