Ripple (XRP) Closes Last Hour Down $0.00; Heads Down For the 2nd Day In A Row, Pin Bar Pattern Appearing on Chart

The Hourly View for XRP

Last Updated March 16, 2021, 11:17 GMT

At the moment, Ripple’s price is down $0 (-0.06%) 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. 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 an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. With that said, traders should also note the downtrend on the 10 hourly candle timeframe, so the meaning of the candles may require further exploration. 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 came into today down 0.82% ($0.0036) from the open of the previous day, marking the 2nd day in a row a decline has happened. The change in price came along side change in volume that was up 38.58% from previous day, but down 16.6% from the Monday of last week. On a relative basis, the previous day was pretty good: Ripple bested all 7 of the assets in the Top Cryptos class 🙂 Below is a daily price chart of Ripple.

Ripple Technical Analysis

The first thing we should note is that the current price of Ripple is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. For another vantage point, consider that Ripple’s price has gone down 17 of the previous 30 trading 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 attorneyjeremy:
  

  I just finished an outline on Attorney Deaton’s Motion to Intervene in the SEC v. Ripple lawsuit on behalf of XRP holders, what it is, and why it is CRUCIAL. I will shoot the video when I get home and try and have it up on YouTube early this evening – stay tuned!

• From XRP_OWL:
  

  I would legitimately (not lying at all) be a fucking millionaire right now if I would have diversified more and not held so much XRP. That being said I chose to diversify in November and STILL HOLD xrp by using research metrics similar. This should be a lesson for everyone.

• From xrp_mami:
  

  Undervalued projects are my go 2. But I only buy what I know is going to last post regulations. My top 2 choices are $QNT & $XRP. Those will bring my financial freedom. $HBAR will provide the gains I need to get a massive head start in my savings. Find your plan and stick to it.

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

Bitrue Reaps the Rewards of Putting XRP at the Center of its Digital Assets Platform | Ripple

Making Bitrue an XRP-centric exchange had the potential to make the business more than just a simple trading platform….Persuading customers to use our platform was an even tougher challenge.” How the Active XRP Community Drives Exchange TrafficDemonstrating that more and more people were adopting On-Demand Liquidity to make cross-border transactions more efficient helped Wang convince the Bitrue team to focus the platform on XRP.