The Hourly View for XRP
Last Updated December 17, 2020, 16:17 GMT
At the time of this writing, XRP’s price is up $0.02 (3.11%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 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 choppiness in the recent daily price action of Ripple continues; to start today, it came in at a price of 0.5707 US dollars, up 21.79% ($0.1021) since the day prior. The price move occurred on stronger volume; specifically, yesterday’s volume was up 135.29% from the day prior, and up 24.37% from the same day the week before. Ripple outperformed all 7 assets in the Top Cryptos asset class since the day prior. Congrats to its holders! Here is a daily price chart of Ripple.
Ripple Technical Analysis
Coming into today the current price of Ripple is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to buy dips. For additional context, note that price has gone down 7 out of the past 10 days. Price action traders may also wish to note the presence of a bullish engulfing pattern in the midst of the downtrend on the 90 and 14 day charts, which may signal the trend is concluding.
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 BCBacker:
Shakeout in full force!XRP hit $0.437 last night and Bitcoin is now at $19,700!Don’t lose sight of the grand picture. This market is bullish. This is max pain at the end to get people to say “I’ve had enough!” and let go at the bottom, after buying the top!
- From CryptoBull2020:
Do you really think the big guys want you to enjoy #XRP at $10 and above? Do you really think they will make it easy for you? They want you to sell them your $XRP at these prices and be miserable when it hits $10, $20, $50+. Be strong or be poor.
- From KiaCrypto:
Do I have regret?
Yes, I didn’t go ALL IN on #XRP back at $0.23 given my own signal.
Now, I did at $0.47 -$0.46.
Well, not bad, but I could do better!
This is a very difficult market, and I do my best!
my tweets are not your buy signal.
I’m in no way responsible for your action