Ripple (XRP) Price Near $0.25; 3 Day Up Streak Ended

The Hourly View for XRP

Last Updated October 21, 2020, 19:16 GMT

Currently, XRP’s price is down $0 (-0.32%) from the hour prior. XRP has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. 3 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 end of a 3 day positive run has come for Ripple, which finished the previous day down 0.9% ($0.0022). The change in price came along side change in volume that was up 2.82% from previous day, but down 4.44% from the Tuesday of last week. 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. Let’s take a look at the daily price chart of Ripple.

Ripple Technical Analysis

The first thing we should note is that Ripple is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 18 out of the past 30 days.

Overheard on Twitter

Behold! Here are the top tweets related to Ripple:

• From X__Anderson:
  

  Opinion/Belief: $XRP will not have an average return. It will either go 1000x + or go to zero. … and it seems regulatory clarity is what is holding it back. Financial interests. It’s a bet I’m willing to make, the risk/reward looks too good. Not financial advice.

• From Kevin_Cage_:
  

  It doesn’t matter if I believe what you believe regarding $XRP going up slow & steady or mooning overnightXRP is my largest position. We are on the same team. Relaaaaax 👊You don’t need others to agree with your beliefs to reaffirm your own #ImOpenToAnythingTBH

• From ThinkingCrypto1:
  

  1/2 I’m gonna get a lot of hate for this but I have to keep it real. I’m bullish on both #Bitcoin and #XRP. However, when folks at @Ripple state that China controls Bitcoin, do they not see they are throwing stones from a glass house when they control the majority of XRP?

For a longer news piece related to XRP that’s been generating discussion, check out:

Ripple versus Stablecoins…or is it? – Galgitron’s Blog

I mean, why would anybody need to bridge through XRP if they can just send a stablecoin and be done right?…No, I’m talking about the global reserve currency of course, the USD, which today acts as the bridge to create virtual pairings that are too illiquid to exist on their own….How is the fact that I have a Mexican stablecoin going to help me bypass the need for a bridge currency to get my money to my Indian friend in their local currency so they can actually use it?…So yes, even stablecoins still need to be bridged in a X-border payment….”But but but you can bridge with a USD CBDC instead of using ODL, right?” Yes, I could, but why would I?…(I’m not apologizing) Stablecoins in ODL Yes, it is possible that ODL evolves to use a stablecoin instead of XRP in many cases.