The Hourly View for XRP
Last Updated January 12, 2021, 02:049 GMT
Currently, XRP’s price is down $0 (-0.11%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as XRP has now gone down 5 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on XRP. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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
Ripple came into today down 8.63% ($0.0272) from the open of the previous day, marking the 2nd day in a row it has gone down. The price move occurred on stronger volume; specifically, yesterday’s volume was up 24.13% from the day prior, and up 19.71% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Ripple ended up ranking 3rd for the day in terms of price change relative to the previous day. Below is a daily price chart of Ripple.
Ripple Technical Analysis
Notably, Ripple crossed below its 200 day moving average yesterday. 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 14 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 14 days Ripple’s price has gone up 7 them.
Overheard on Twitter
Behold! Here are the top tweets related to Ripple:
- From xrp_mami:
It’s so obvious that XRP is being suppressed. We start breaking out and BTC dumps hard to get us to stop the bull run. Or exchanges all of sudden start having issues. That alone tells me we chose the right coin. When clarity comes utility will drive stability and price. F BTC ??
- From JoelKatz:
@VentureCoinist @HypeBillion @MycolePawket My personal vision for XRP, since 2013 or so, was this idea of deep, open, public pools of liquidity that anyone, anywhere could contribute to and draw off of — a global market for assets that someone happens to already have exactly where someone else happens to need them to be.
- From JoelKatz:
@VentureCoinist @MycolePawket @Ripple To say bitcoin will beat XRP, you have to think that all that matters is its lead. It’s slower. It’s more expensive. It lacks on-chain features like account security management. We don’t know if block generation will be stable as the block reward drops. …
For a longer news piece related to XRP that’s been generating discussion, check out:
Job postings indicate that Ripple is working with central banks for CBDCs
As three open positions as “Technical Partner Manager, Central Banks “for London, New York and San Francisco show, Ripple might already be at a more advanced stage in terms of digital central bank currency projects than was previously publicly known….According to the job postings, technical partner managers are expected to play a central role in expanding Ripple’s collaboration with central banks around the world by designing and leading the deployment of CBDC projects and solutions….The central bank noted that the test “proved promising in enabling RTGS systems that are seamless and globally interoperable.” At the Yahoo Finance “All Markets” conference in 2018, Garlinghouse also confirmed that the BoE is “a paid customer of Ripple.” Furthermore, it is also known that Ripple had meetings with the Central Bank of Cambodia as well as the Central Bank of Brazil in the past.