Ripple Price Analysis: XRP Falls Towards The $0.45 Support Wall
Daily Ripple XRP Price Forecast
- The parabolic SAR has flip-flopped between bullish and bearish.
- MACD in the 4-hour Ripple price chart shows increasing bearish momentum.
The Ripple price has dropped considerably under heavy bearish pressure, falling from $0.565 to $0.464, losing nearly $0.1 in its overall valuation. Let’s take a closer look with technical analysis.
Ripple Price Falls Below 20-day SMA
The Ripple price has managed to flip the 20-day SMA from support to resistance. The 50-day SMA has managed to stop any further downflow. Similarly, the 20-day SMA has prevented the bulls from taking the price any higher. The parabolic SAR briefly went bullish before reverting to bearish.
Image: XRP/USD daily
The MACD in the 4-hour Ripple price chart shows increasing bearish momentum. As such a further price drop is expected.
Image: XRP/USD 4-hour
Ripple Price Is Expected To Reach These Levels
The Ripple price will likely drop below the $0.45 support line.