The Hourly View for XRP
Last Updated June 7, 2021, 07:017 GMT
At the moment, Ripple’s price is down $0 (-0.35%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as Ripple has now gone down 10 of the past 10 hours. Regarding the trend, note that the strongest trend 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
0.9456 (USD) was the opening price of the day for Ripple, resulting in the previous day being one in which price moved up 2.44% ($0.0225) from the previous day. This move happened on lower volume, as yesterday’s volume was down 36.05% from the day before — and down 52.2% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Ripple ended up ranking 2nd for the day in terms of price change relative to the previous day. Here is a daily price chart of Ripple.
Ripple Technical Analysis
Coming into today Ripple is now close to its 100 day moving averages, which may act as price barrier for the asset. 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 30 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For another vantage point, consider that Ripple’s price has gone up 5 of the previous 10 trading days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Ripple:
- From mrnguyen007:
Here is my answer, when XRP hit $20.00 I will give away $20,000.00 to one of my lucky follower! Who will it be? I don’t ask for you to like, retweet, or do anything funny! But I will ask you to pray ? for all the Covid-19 patients in the World ?..God bless you & I love you ❤
- From Leerzeit:
This litigation will soon be over. Even if we are tired now, after all we will be grateful for this legal case. No other cryptocurrency has ever been given such a powerful catalyst as #xrp. This case will soon prove to be a great gift to us. Hang in there, it won’t be long now.
- From LeoHadjiloizou:
Watching the Ripple wallet that holds Jed’s XRP drop below 1 bn XRP for the first time (on June 3rd) was a reminder that the end is near. That same wallet held more than 3.2 bn XRP on Dec 31, 2020. 648 mn XRP in that wallet currently
588 mn in tacostand
Jed’s XRP = 1,236 bn
For a longer news piece related to XRP that’s been generating discussion, check out:
SEC v. Ripple: Judge could order monetary sanctions if SEC remains uncooperative – FinanceFeeds
“The Court has ordered the SEC to “search all of the relevant repositories for documents and discovery” for communications between the SEC and external third parties relating to XRP, bitcoin or ether….A few days ago, the court denied the SEC’s motion to compel Ripple to produce memos discussing XRP sales with the firm’s lawyers – a motion that Ripple Labs argued went against the rules of attorney-client privilege.