0

Ripple Price Analysis: Buyers Attempt To Make Up For Wednesday’s Losses

Daily Ripple XRP Price Forecast

2 Min Read
Last Updated May 6th 2021
  • The Ripple price had three straight bearish sessions before the buyers stormed back in.
  • The 4-hour chart flashed multiple buy signals.

Between May 2 and May 4, the Ripple price had three straight bearish sessions after failing at the $1.65 resistance barrier.and dropping to $1.39, finding support at the 20-day SMA. The buyers have since stepped back into the market this Wednesday to make up for Tuesday’s losses.

Ripple Price Has Three Straight Bearish Sessions

This Wednesday, the buyers took control of the Ripple price having bounced up from the 20-day SMA. So far, XRP has jumped to $1.58, completely negating Tuesday’s losses. The relative strength index (RSI) still has room to creep into the overbought zone, so it tells us that XRP may grow some more.

Image: XRP/USD daily

Ripple XRP Daily Chart

In the 4-hour Ripple price chart, XRP has flashed multiple negative signals:

  • The parabolic SAR has flipped from positive to negative.
  • The MACD has reversed from bearish to bullish.
  • The 20-bar and 50-bar SMAs have reversed from support to resistance.

Image: XRP/USD 4-hour

Ripple XRP 4-Hour Chart

Former US Treasurer, Kristina Campbell, Joins Ripple board, As New CFO

Ripple recently announced two notable appointments. Former US Treasurer Rosa “Rosie" Gumataotao Rios is joining Ripple's board of directors, and Kristina Campbell is joining the firm as its new chief financial officer.

Ripple chief executive officer Brad Garlinghouse said:

These two exceptional leaders join Ripple at a pivotal time for the company. Rosie’s experience in the public and private sectors provides an invaluable perspective to Ripple, especially during this time as the industry works to define crypto’s future. As well, adding Kristina’s extensive knowledge and success building teams and processes at rapidly accelerating businesses was a no-brainer. We are extremely fortunate to have them on the team as we continue our rapid international growth and to champion for regulatory clarity in the U.S. 

Rios was the 43rd Treasurer of the US in the Obama administration. She received the Hamilton Award, the highest honor given by the Treasury Department for her contribution to the agency. 

Meanwhile, Campbell is expected to expedite Ripple’s growth by driving its financial strategy and delivering value to shareholders at a time when opportunities are expanding across the world.

Ripple Price Is Expected To Reach These Levels

The Ripple price will jump further to reach the $1.65 resistance barrier. A break above that line will take XRP to $1.85 resistance.

Top Brokers in
    All Regulated Brokers
    67% of retail clients lose money when trading CFDs with this provider.