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Ripple (XRP) Price Near $1.30; in an Uptrend Over Past 30 Days, Bearish Engulfing Pattern Present

XRP

The Hourly View for XRP

Last Updated April 22, 2021, 02:049 GMT

Currently, XRP’s price is down $-0.01 (-0.61%) from the hour prior. XRP has seen its price go down 8 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 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on XRP. Given that we see downtrend on the 20 and 5 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

The back and forth price flow continues for Ripple, which started today off at 1.291 US dollars, down 6.92% ($0.096) from the day prior. This move happened on lower volume, as yesterday’s volume was down 22.67% from the day before — and down 64.29% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ripple ranked 6th since the day prior in terms of percentage price change. Below is a daily price chart of Ripple.

Ripple Technical Analysis

The first thing we should note is that Ripple is now close to its 20 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone down 6 out of the past 10 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

Behold! Here are the top tweets related to Ripple:

  • From XRPcryptowolf:

    I could give two shits if people come at me for saying #SAFEMOON is a Ponzi scam. I have a huge platform and will use it to protect the #XRP community from scams. Once you have a lot of money you realize that it’s not the most important thing. Helping people is what I love to do

  • From xrp_mami:

    FLR utility is going to pump the fuck out of $XRP. So many of you will sell far to early and never look back. Very bad idea. Have a plan. Hit your targets. Think about passive income. If you can have your assets pay for your liabilities w/o touching your principle. Ur set 4 life

  • From xrp_mami:

    $XRP is at war with commercial banks and payment providers. They don’t like XRP because it’s superior tech. It gets in the way of their status quo (fees). So the SEC sues to shy folks away from $XRP. Elites distract you with the Doges of the world. But Fuckem. $XRP is inevitable.

For a longer news piece related to XRP that’s been generating discussion, check out:

Institutional investments in Ripple’s XRP nearly doubled last week

Institutional players allocated $33 million in XRP investment products last week, says a CoinShares report….Ripple-issued token XRP has been the most popular altcoin among institutional investors as the assets under management (AUM) in related financial assets nearly doubled, a report published by asset manager CoinShares earlier this week showed….Per the report, around $33 million worth of institutional capital has been allocated in XRP investment products over the past week, pushing the corresponding assets under management (AUM) to $83 million….None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article.




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