Ripple (XRP) Price Near $1.51; Makes Big Move Relative to Two Week Trend, Moves Down For the 5th Consecutive Day, Crosses 20 Day Moving Average

The Hourly View for XRP

Last Updated May 12, 2021, 02:017 GMT

At the time of this writing, Ripple’s price is down $0 (-0.2%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as Ripple 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 20 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

Ripple closed the previous day down 9.44% ($0.145); this denotes the 5th consecutive day a decline has happened. As for how volume fared, yesterday’s volume was up 60.13% from the previous day (Monday), and up 77.12% from Tuesday of the week before. Out of the 7 instruments in the Top Cryptos asset class, Ripple ended up ranking 6th for the day in terms of price change relative to the previous day. Below is a daily price chart of Ripple.

Ripple Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Ripple crossed below its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to view things another way, note that out of the past 30 days Ripple’s price has gone down 19 them.

Overheard on Twitter

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

  • From Lydia78976035:

    Met a guy this morning through a work meeting who was a former stock broker with Merrill Lynch for 20 years. He said he has now owns gold and some #Bitcoin and asked me if I have ever heard of crypto. He was very shocked with my answer. 😅 He is going to look into $VET and $XRP.

  • From cryptoassetsguy:

    #XRP COMMUNITY IT’S TIME. THE CONDITIONS ARE MET. LET’S GET SERIOUS WITH THIS THIS TWEET IS TO ASK @COINBASE, @BINANCEUS, @BITSTAMP & @KRAKENFX TO FINALLY RE-LIST $XRPTHE GOAL IS TO GET +5,000 RETWEETS! WE CAN DO IT! 💪🏼

  • From SirRobArtII1:

    #XRP still has to hit $7-$13 area. It will mega pump soonish. After that, I believe it might go a little higher, but then the bear market commences. In my humble opinion. We’ve made tons of money and about to make tons more off XRP. But both bull and bear markets end.

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

Former Ripple’s Jed McCaleb Dumps 259 Million XRP, 502 Million Still in His Wallet

He also received 442 million XRP from Ripple Labs on May 1….Every week, McCaleb sells XRP from his shrinking stash, dumping a certain amount of XRP each day.