Ripple (XRP) Closes Last Hour Up $0.00; Pin Bar Pattern Appearing on Chart, Price Base in Formation Over Past 30 and 90 Days, Moves Up For the 3rd Day In A Row

The Hourly View for XRP

Last Updated January 21, 2021, 13:17 GMT

Currently, Ripple’s price is up $0 (0.14%) from the hour prior. Ripple has seen its price go down 24 out of the past 30 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on Ripple. Given that we see downtrend 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

Ripple closed the day prior up 0.41% ($0.0012); this denotes the 3rd day in a row an increase has occurred. This move happened on lower volume, as yesterday’s volume was down 63.41% from the day before — and down 53.86% 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 day prior. 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 200 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. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Price action traders in particular will want to note that the 30 and 90 day periods appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 7 out of the past 14 days.

Overheard on Twitter

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

• From xrp_mami:
  

  Going to be quietly accumulating from this day forward. Won’t let the bots and whales see my moves. No more price or buy posts.. XRP is the most suppressed asset on the market. Period. Buying low doesn’t get any lower than XRP at the moment. I’ll be stacking heavy🤞🏼#XRP

• From xrp_mami:
  

  People really think their just going to come out and say XRP is the new reserve asset and its value is going to $2K pegged to gold and buy now while its low. Are you dumb? You’ll never get the correct answer looking at MSM headlines.

• From JohnEDeaton1:
  

  Ripple executives like @bgarlinghouse @chrislarsensf @JoelKatz @s_alderoty have stated that XRP was not designed to pay for a cup of coffee. Instead, it was
  designed for the banks and money service providers. In fact, XRP was labeled by the hard-core #Bitcoin community as

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

UK Investment Firm Aims to Block Ripple From Leveraging Liquid Assets, Jed McCaleb Dumps 28.6 Million XRP – Finance Bitcoin News

The court filing indicates that Tetragon and Ripple allegedly made an agreement, and the SEC case deeming XRP as an unregistered security should allow them to get funds back….Moreover, weeks after the SEC charges, former Ripple executive Jed McCaleb sold 28.6 million XRP….In addition to the recent court filing by Tetragon and Delaware’s Chancery Court’s most recent decision, former Ripple executive Jed McCaleb reportedly sold 28.6 million XRP this week….What do you think about the Tetragon lawsuit against Ripple and Jed McCaleb alleged 28.6 million XRP sale?