Ripple (XRP) Closes Prior Hour Up 1.02%; Heads Down For the 3rd Straight Day, Price Base in Formation Over Past 14 Days

The Hourly View for XRP

Last Updated December 22, 2020, 04:017 GMT

At the moment, Ripple’s price is up $0 (1.02%) from the hour prior. Ripple has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Ripple Daily Price Recap

Ripple is down 7.5% ($0.0417) since the previous day, marking the 3rd straight day it has gone down. The price move occurred on stronger volume; specifically, yesterday’s volume was up 12.37% from the day prior, and up 141.07% 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. The daily price chart of Ripple below illustrates.

Ripple Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up 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 additional context, note that price has gone down 9 out of the past 14 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 bgarlinghouse:
  

  We know crypto and blockchain technologies aren’t going anywhere. Ripple has and will continue to use XRP because it is the best digital asset for payments – speed, cost, scalability and energy efficiency. It’s traded on 200+ exchanges globally and will continue to thrive. (2/3)

• From Kevin_Cage_:
  

  Let the FUD continue. I don’t care.*If* we see XRP go under 30 cents or even lower in 2021, I double my stacks…again like last time.The majority think 40 cents is the bottom. That’s fine for me tooLet’s get this show on the roadHowever, I prepare for the worst case 😉

• From RaoulGMI:
  

  Thought: Let’s say a start up, like $FB back in the day, raised funding on a dodgy idea, let’s say they got traction and the idea didnt look so dodgy so they raised more cash via equity but lets say they agree to an limit on the equity issuance. Is that wrong? XRP (no view).

In terms of news links for Ripple here’s one to try:

Ripple Price Analysis: Can XRP Retest 2020’s High Of $0.78? – Crypto Gazette

Nope – It’s Going To $500k” https://cryptogazette.com/forbes-puts-bitcoin-in-the-spotlight-again-its-going-to-50k-nope-its-going-to-500k #bitcoin #btc #crypto #cryptocurrency #news #bitcoin Cardano Foundation Shares New Brand Guidelines https://cryptogazette.com/cardano-foundation-shares-new-brand-guidelines #cardano #projectrenovare #crypto #cryptocurrency #news #bitcoin Gold, Real Estate And Bonds To Lose Demand To Bitcoin https://cryptogazette.com/gold-real-estate-and-bonds-to-lose-demand-to-bitcoin #bitcoin #btc #crypto #cryptocurrency #news #bitcoin Receive lasted top cryptocurrency news in your mailbox….Sign up for the newsletter and get lasted cryptocurrency news.