Ripple (XRP) Closes Prior Hour Down -1.41%; Bullish Engulfing Pattern in Play, Breaks Above 20 Day Average, But Still in a Downtrend Over Past 14 Days

The Hourly View for XRP

Last Updated April 27, 2021, 04:017 GMT

At the moment, Ripple’s price is down $-0.02 (-1.41%) from the hour prior. Ripple has seen its price go down 5 out of the past 5 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 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 1.367 US dollars, up 32.21% ($0.333) since the previous day. The change in price came along side change in volume that was up 69.32% from previous day, but down 0.77% from the Monday of last week. On a relative basis, the previous day was pretty good: Ripple bested all 7 of the assets in the Top Cryptos class 🙂 Here is a daily price chart of Ripple.

Ripple Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Ripple crossed above its 20 day moving average yesterday. 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 down 9 out of the past 14 days. Price action traders may also wish to note the presence of a bullish engulfing pattern in the midst of the downtrend on the 14, 30 and 90 day charts, which may signal the trend is concluding.

Overheard on Twitter

Over on Twitter, here were the top tweets about Ripple:

  • From Kevin_Cage_:

    You know how we were all extremely confident in $XRP reaching $1 again when we were even at $.11 in March 2020?I feel that same level of confidence thinking of $XRP at $10 while it’s sitting at $1 today.Our job is easy. Just have to wait.

  • From joker_xrp:

    Banks Hate The Fact that Crypto Is About To Take Over. They’ll Tell You Not To Buy, They’ll Flag It As Fraud Or Block Your Account. But Guess What, They Are The Same Ones Trying To Buy It All. Whilst You, The Little Man Is Deceived & Misses Out. Take Smart Risks My Friends #XRP🃏

  • From MoonLamboio:

    Even if XRP dips below $0.91 at some point in the future, trying to time the markets is like playing with fire & eventually you WILL get burnt. I say no thanks good sir! If XRP goes where I think it may go it’ll be very life changing, so why put that at risk for small gains? HODL

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

Ripple lawsuit heats up: SEC takes aim at heart of Ripple’s legal defense – FinanceFeeds

“To the SEC’s knowledge, no federal court has accepted a defendant’s argument that the term fails to provide the constitutionally required notice; indeed, in the realm of offers or sales of digital assets, at least two district courts in this Circuit have rejected that argument”, the regulator stated….The SEC v….Most recently, the SEC raised eyebrows for protesting against a subpoena on One River Asset Management, which hired ex-SEC Chairman Jay Clayton after he filed the complaint against Ripple the day before leaving office.