The Hourly View for XRP
Last Updated March 4, 2021, 02:049 GMT
Currently, XRP’s price is down $0 (-0.55%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. 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 back and forth price flow continues for Ripple, which started today off at 0.4487 US dollars, up 2.84% ($0.0124) from the previous day. This move happened on lower volume, as yesterday’s volume was down 14.2% from the day before — and down 43.74% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ripple ranked 5th since the previous day in terms of percentage price change. 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 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Also of note is that on the 30 and 90 day bases price appears to be forming a base — which could the stage for it being a support/resistance level going forward. 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 sentosumosaba:
FINALLY!!! Japan uses crypto-asset #XRP for settlement w/ overseas business companies in Singapore!!! “It shows that it can actually be used for transactions related to settlement & we are confident that it has even greater potential in expanding the Swap market…” 1/2
- From sentosumosaba:
FXCoin CEO: “It shows that it (XRP) can actually be used for transactions related to settlement between operating companies & overseas partners, & I am convinced that it has even greater potential in expanding the Swap market for crypto assets. We are doing it.”
?We are doing it - From Kevin_Cage_:
Once again, I have not sold ANY of my long term $XRP. I have a bag I’ve been adding to for 4 years.That won’t change. I believe it will be worth 100x plus in the years ahead.It’s one of my largest bags. I hold well over 30 assets which is kind of silly, I know.
As for a news story related to Ripple getting some buzz:
The Environmental Impact: Cryptocurrency Mining vs. Consensus | Ripple
In effect, the Consensus that governs transactions of the digital asset XRP solves for the “double spend” problem without the need for energy intensive Proof-of-Work mining….All XRP is already in existence, meaning no unsustainable mining practices or additional energy is ever required to produce more, unlike other digital assets like Bitcoin and Ethereum. The unsustainable mining practices and Proof-of-Work mechanism behind Bitcoin and Ethereum are massive barriers for the more widespread adoption of cryptocurrencies.