Ripple (XRP) Down $0.0001 Over Past 4 Hours, Price Base in Formation Over Past 30 Days; Eyes 50 Day Average

Ripple 4 Hour Price Update

Updated June 07, 2020 01:36 AM GMT (09:36 PM EST)

Ripple is down 0.05% ($0.0001) since the previous 4 hours, marking the 2nd candle in a row a decline has happened. Out of the 5 instruments in the Top Cryptos asset class, Ripple ended up ranking 4th for the four-hour candle in terms of price change relative to the previous 4 hours.

Ripple Daily Price Recap

The back and forth price flow continues for Ripple, which started today off at 0.2037 US dollars, up 0.54% ($0.0011) from the previous day. This move happened on lower volume, as yesterday’s volume was down 63.84% from the day before — and down 27.18% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ripple ranked 2nd since the previous day in terms of percentage price change. Let’s take a look at the daily price chart of Ripple.

Ripple Technical Analysis

Coming into today the current price of Ripple is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 6 out of the past 10 days.

Overheard on Twitter

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

  • From RobertArtRobArt:

    TechCrunch moved $50 million in 30 seconds via XRP for $0.30, so sending $5 mill would be 3 cents? If that’s the case and you can move $500 mill for $3 & $1 billion for $6, how high will price really go, if you need only 1 XRP at $0.30 out of 100 bill to send $50 mill?@JoelKatz

  • From galgitron:

    Be sure to avoid engaging sockpuppet accounts trying to spread lies and ignorance about XRP. You can tell a sockpuppet by their really low follower count or very recent join date. They are part of organized FUD campaigns, so don’t give them more visibility, just block them.

  • From BeadiAlex:

    I have been 50 $BTC / 50 $XRP for a long time, but now #BITCOIN is stuck by exchanges because there are a lot of impossible to pay shorts & longs, it will be arround $10k for weeks. Right now I’m moving all in $XRP / We are in font of an inminent #XRP moonshot $3. Altseason

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

David Schwartz denies that Ripple (XRP) will launch own stablecoin

David Schwartz, CTO from Ripple, answered questions on Twitter about the possible launch of a stablecoin on the XRP ledger….The community member, Networfan, asked Schwartz and other users about a fake news story claiming that Ripple would create a stablecoin called xrpsc….In the past, the possibility of a stablecoin being launched on the XRP Ledger has been raised, but as Ripple’s CTO says, by third parties.