Ripple (XRP) Closes Last Hour Up $0.01; 2 Day Down Streak Snapped, Price Base in Formation Over Past 14 Days

The Hourly View for XRP

Last Updated June 7, 2021, 10:17 GMT

Currently, Ripple’s price is up $0.01 (0.65%) from the hour prior. Ripple has seen its price go down 8 out of the past 10 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 100 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 0.9456 US dollars, up 2.44% ($0.0225) since the previous day. This move happened on lower volume, as yesterday’s volume was down 36.05% from the day before — and down 52.2% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ripple ranked 2nd since the previous day in terms of percentage price change. Here is a daily price chart of Ripple.

Ripple Technical Analysis

Coming into today Ripple is now close to its 100 day averages, located at 0.99 respectively, and thus may be at a key juncture along those timeframes. 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 30 day horizon; over that time period, price has been moving down. 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 another vantage point, consider that Ripple’s price has gone up 7 of the previous 14 trading 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 mrnguyen007:

    Here is my answer, when XRP hit $20.00 I will give away $20,000.00 to one of my lucky follower! Who will it be? I don’t ask for you to like, retweet, or do anything funny! But I will ask you to pray 🙏 for all the Covid-19 patients in the World 🌎..God bless you & I love you ❤

  • From Leerzeit:

    This litigation will soon be over. Even if we are tired now, after all we will be grateful for this legal case. No other cryptocurrency has ever been given such a powerful catalyst as #xrp. This case will soon prove to be a great gift to us. Hang in there, it won’t be long now.

  • From LeoHadjiloizou:

    Watching the Ripple wallet that holds Jed’s XRP drop below 1 bn XRP for the first time (on June 3rd) was a reminder that the end is near. That same wallet held more than 3.2 bn XRP on Dec 31, 2020. 648 mn XRP in that wallet currently
    588 mn in tacostand
    Jed’s XRP = 1,236 bn

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

SEC v. Ripple: Judge could order monetary sanctions if SEC remains uncooperative – FinanceFeeds

“The Court has ordered the SEC to “search all of the relevant repositories for documents and discovery” for communications between the SEC and external third parties relating to XRP, bitcoin or ether….A few days ago, the court denied the SEC’s motion to compel Ripple to produce memos discussing XRP sales with the firm’s lawyers – a motion that Ripple Labs argued went against the rules of attorney-client privilege.