The Hourly View for XRP
Last Updated July 22, 2021, 04:017 GMT
At the moment, Ripple’s price is up $0 (0.64%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as Ripple has now gone down 8 of the past 10 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. 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
The choppiness in the recent daily price action of Ripple continues; to start today, it came in at a price of 0.5711 US dollars, up 7.96% ($0.0421) since the day prior. As for how volume fared, yesterday’s volume was up 16.96% from the previous day (Tuesday), and up 49.39% from Wednesday of the week before. Relative to other instruments in the Top Cryptos asset class, Ripple ranked 3rd since the day prior in terms of percentage price change. Here is a daily price chart of Ripple.
Ripple Technical Analysis
The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For another vantage point, consider that Ripple’s price has gone down 16 of the previous 30 trading days. Those interested in trading off candles may wish to observe the emergence of a bullish engulfing pattern, which seems particularly noteworthy against the backdrop of a downtrend on the 90, 14 and 30 day time periods.
Overheard on Twitter
Behold! Here are the top tweets related to Ripple:
- From WKahneman:
As of today, if you owned #XRP, you could have additionally gained FLR, DFLR, & SGB, potentially drawing in value from LTC, DOGE, XLM, CSC, ADA, ALGO, BNB, CAKE, CEL, GALA, GTC, PAC, SANSHU, SHIB, TEL, USDC, USDT, XDC and even ETH, as well. That’s really quite astonishing.
- From SnyderSheridan:
I have been homeless and only live to get high. Now 17 years later I make great money and it’s all thanks to God and when #XRP #CasinoCoin #XLM moon I want to give back and help as many people as I can get off drugs and off the streets. One day this dream will come true.
- From mrnguyen007:
I beg all my friends & followers in here! Promise me one thing, when you become an XRP Millionaire, please help out your local charity so they can feed hungry children. No child in this world should go without a basic need of life. God bless you & Iove you! Love thy neighbor ❤
For a longer news piece related to XRP that’s been generating discussion, check out:
It is time for the US to create a ‘Ripple test’ for crypto
The SEC’s approach to crypto must be modified to more clearly articulate how securities laws should apply to digital assets….This general dissatisfaction with the Ripple case, often denigrated as “regulation by enforcement,” has led some to call for the development of a “Ripple test” to more clearly articulate how securities laws should apply to crypto assets….While it would probably take an act of Congress to encourage (or force) the SEC to move in this direction, a Ripple test adopting the utility token (or consumptive purpose) approach could have precluded the application of securities laws to Ripple’s XRP tokens….An alternative Ripple test could limit the scope of the SEC’s authority under the securities laws so that an interest determined by the Financial Crimes Enforcement Network (FinCEN) to be a currency is not a security….Ripple and the change would clearly preclude the SEC’s decision to act against Ripple and its XRP token….However, the federal securities laws currently provide no statute of limitations on the right of the SEC to initiate enforcement actions.
Credit: Source link