Ripple (XRP) Closes Last Hour Down $0.00; 2 Day Up Streak Snapped, Crosses 100 Day Moving Average, Bearish Engulfing Pattern Present

The Hourly View for XRP

Last Updated June 5, 2021, 02:046 GMT

Currently, XRP’s price is down $0 (-0.14%) from the hour prior. XRP has seen its price go down 9 out of the past 10 hours, thus creating some compelling opportunities for bears. 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

The back and forth price flow continues for Ripple, which started today off at 0.9691 US dollars, down 7.26% ($0.0759) from the day prior. The price move occurred on volume that was up 50.69% from the day prior, but down 14.1% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ripple ranked 4th since the day prior in terms of percentage price change. The daily price chart of Ripple below illustrates.

Ripple Technical Analysis

First things first: Ripple crossed below its 100 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 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 8 out of the past 14 days. Traders may also wish to note that there is a bearish engulfing pattern in play, which suggests the uptrend on the 30 and 90 day charts, may be slowing down and ready to reverse.

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 DefendDark:

    Dears, as we have seen yesterday #XRP tried $1.07 again and rejected. That’s why we have resistances and supports. As soon as she breaks there, she’ll continue the trend. I follow the same chart. #XRP have not finalized her pattern yet. Our target $13 is clear and I have #0doubt.

  • From mrnguyen007:

    The SEC is now at the end of the road in Ripple case. The Sun Shine Act Meeting is today to discuss their game plan! 🤔Don’t be surprised that the case settled before we even know it. Expect a massive waves of tsunami in the Cryptos world. XRP price will go parabolic up north✅

  • From CryptoBull2020:

    When #XRP was below $0.20 I was one of the most bullish person on here and was criticized a lot.As we are working our way to $10 and possibly beyond I will share less bullish tweets, as the risk becomes higher and the chance of reward lower for those buying in late!

In terms of news links for Ripple here’s one to try:

What is Ripple and XRP?

First, it is important to know that Ripple and XRP are not the same….* XRP is the native token of the XRP ledger….The Ripple network can be used to send 2 types of tokens: IOUs XRP 1….XRP is the native token of Ripple network….When an XRP transaction is broadcast to the network, Validators vote on if the transaction is valid or not….If 80% of Validators vote valid then the transaction is added to the XRP Ledger.