Ripple Price Prediction: XRP Could Fall For Three More Days

Daily Ripple XRP Technical Analysis

Last Updated July 23rd 2021
2 Min Read
  • The Ripple price has flashed multiple sell signals in the 4-hour chart.
  • RSI is hovering horizontally next to the oversold zone.
  • Since May 19, the Ripple price has dropped from $1.46 to $0.59, having found healthy support at the $0.58 line. Due to this drop, XRP successfully managed to flip the 20-day, 50-day, and 200-day SMAs from support to resistance. 

    Ripple Price Could Drop For Three More Days

    On July 13, the Ripple price failed at the 20-day SMA resistance and dropped to $0.59.  During this drop, XRP had six red candlesticks in the TD sequential detector, which shows that Ripple could drop for three more days before flashing the red-nine candlestick.

    Image: XRP/USD daily

    XRP/USD daily chart 071921

    In the 4-hour time frame, the Ripple price has flashed two bullish signals::

    • The MACD shows increasing bullish market momentum.
    • The parabolic SAR has flipped from negative to positive.

    Image: XRP/USD 4-hour

    XRP/USD 4-hour chart 071921

    Major RippleNet Partner Obtains Bank of Thailand Approval

    One of the largest private banks in Southeast Asia, Siam Commercial Bank, has obtained a license for its operations with RippleNet digital payments processor. According to information shared by XRP community activist Crypto Eri (@sentosumosaba), Siam Commercial Bank now has all of its operations authorized by the Bank of Thailand.

    "Siam Commercial Bank Infomercial! SCB EASY app Money Transfer with Ripplenet. "Bank of Thailand authorized the service to leave the sandbox...so you can be confident." 12 countries / USD GPB EURO SGD / Fastest is England to Singapore in 30 seconds & does a live demo. @Ripple"

    The platform's money transfer application allows users to transfer funds between 12 countries. The SCB accepts USD, Euro, Singapore Dollar, and British Pound as payment methods. With RippleNet digital systems, it takes 30 seconds to transfer money from Great Britain to Thailand, Crypto Eri concludes. RippleNet by Ripple is among the small cohort of blockchain-based payment solutions adopted by large-scale enterprises across the globe.

    Most frequently, RippleNet is utilized by banks to establish reliable, fast, and cost-efficient cross-border money corridors for individuals and businesses. 

    Additionally, Crypto Eri shared a screenshot of an SCB presentation designed to display its functionality to central bank officials.

    Source: Twitter

    XRP/USD twitter chart 071921

    "Notice XRP in the Graphic for the Bank of Thailand!"

    XRP token is demonstrated as one of the elements of a multi-currency payments ecosystem alongside the USD and Euro.

    Ripple Price Is Expected To Reach These Levels

    The Ripple price will probably break below the $0.58 line and reach the $0.54 support wall.