Ripple (XRP) Closes Last Hour Down $0.00; in a Downtrend Over Past 14 Days, Pin Bar Pattern Appearing on Chart

The Hourly View for XRP

Last Updated July 13, 2021, 02:049 GMT

Currently, XRP’s price is down $0 (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as XRP 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 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on XRP. Given that we see an uptrend on the 20 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

0.6296 (USD) was the opening price of the day for Ripple, resulting in yesterday being one in which price moved down 0.99% ($0.0063) from yesterday. The price move occurred on volume that was up 143.22% from the day prior, but down 25.04% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ripple ranked 3rd since yesterday in terms of percentage price change. The daily price chart of Ripple below illustrates.

Ripple Technical Analysis

The first thing we should note is that Ripple is now close to its 20 day averages, located at 0.65 respectively, and thus may be at a key juncture along those timeframes. 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 down over that time. For another vantage point, consider that Ripple’s price has gone up 7 of the previous 14 trading days.

Overheard on Twitter

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

• From mrnguyen007:
  

  To all the BTC Maxi that DM & challenge me to go on a live debate over BTC & XRP! I will accept your challenge on social media. Make sure you do your homework coz I already done mine! It will be a fair debate & let the Worldwide audience be the Judge! Thanks for the invite! 😉

• From CommunityFlare:
  

  .@Bitboy_Crypto has been interested in #XRP for all of 5 mins based on what his ‘inside sources’ say about Ripple.I’m not sure why members of the community give his opinions so much weight. He has a big following but knows nothing in comparison to the legends you already follow

• From mrnguyen007:
  

  I don’t sell or give away candy in here! I’m not in here to look for follower. I’m in here to share my knowledge, research, and love for a digital diamond called XRP! 💎If you don’t like what I write then that’s your problem! Not mine. No need for nasty & stupid comment. Thanks

As for a news story related to Ripple getting some buzz:

Pressure Mounts on SEC as Senator Sets a Deadline! What This Means for Ripple Labs & XRP Price

The lawyer believes The SEC’s argument that there is no XRP without Ripple makes no sense….XRP isn’t controlled by Ripple….Considering that Judges Torres and Netburn have almost 700 cases pending at any given time, The Ripple Vs SEC lawsuit could stretch for a really long time….The lawsuit has been partly responsible for XRP’s slow price action, also the nature of the broader crypto market is to blame.