Ripple (XRP) Down $0.0009 On 4 Hour Chart, Makes Big Move Relative to Past Month; Price Base in Formation Over Past 30 Days

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Ripple 4 Hour Price Update

Updated June 12, 2020 01:38 AM GMT (09:38 PM EST)

Ripple closed the last 4 hour candle down 0.47% ($0.0009); this denotes the 6th candle in a row a decrease has occurred. 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 last 4 hour candle.

Ripple Daily Price Recap

The back and forth price flow continues for Ripple, which started today off at 0.188 US dollars, down 7.34% ($0.0149) from the previous day. The price move occurred on volume that was up 64.35% from the day prior, but down 20.79% from the same day the week before. Out of the 5 instruments in the Top Cryptos asset class, Ripple ended up ranking 3rd for the day in terms of price change relative to the previous day. The daily price chart of Ripple below illustrates.

Ripple Technical Analysis

First things first: Ripple crossed below its 20 and 100 day moving averages yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. 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 10 days Ripple’s price has gone up 5 them.

Overheard on Twitter

Behold! Here are the top tweets related to Ripple:

  • From HamEggsnSam:

    @ashgoblue @crypt0_prophet @JoelKatz @FfattMedia @Ripple What was the value of spending $30 million dollars worth of XRP over several quarters with MoneyGram to build deep liquidity books on partner exchanges?Has that effort simply been abandoned in this pivot or did it fulfill it’s intended purpose? If so what was that purpose?

  • From JoelKatz:

    @RobertArtRobArt If you have value that you need to hold, you need to hold it somehow. If you are not holding it for a terribly long time, what matters the most is how quickly, cheaply, easily, and securely you can transfer it when you find you do need to transfer it. XRP tries to ace that.

  • From JoelKatz:

    @RobertArtRobArt The thinking is not that XRP will get value because you need it to perform transactions. The thinking, at least mine, is that XRP’s value will come from people holding and using it because its transfers are cheap, fast, and censorship resistant when you do need to transfer it.

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

Ripple: First Bank successfully migrated to cloud solution

The bank announced yesterday that it is the first bank to successfully migrate to the new RippleNet cloud….Meanwhile, Ripple’s financially backed coil announced yesterday that it is investing $1 million in a new collaboration with the technology platform Hacker Noon.