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Ripple Technical Analysis: Bulls Recover From Drop To $0.50

2 Min Read
Last Updated July 23rd 2021

Daily Ripple XRP Price Analysis
  • After six straight bullish price sessions, Ripple price had two straight bearish days.
  • XRP/USD 4-hour chart shows sustained bearish market momentum in the MACD.

Ripple price dropped from $0.63 to $0.56 as the bears took control of the market for two straight days after six consecutive bullish days.

 

Ripple Drops After Flashing Sell Signal

After six straight bullish days, the Ripple price flashed a sell signal in the form of a green nine candlestick. Since then, XRP dipped $0.634 to $0.56, which has also pushed the RSI inside the neutral zone.

xrp/usd daily chart 021521

Image: XRP/USD daily

Looking at the 4-hour Ripple price chart, we see two bearish indicators:

  1. The MACD showing increasing bearish market momentum.
  2. The parabolic SAR has reversed from bullish to bearish.

xrp/usd 4-hour chart 021521

Image: XRP/USD 4-hour

All this shows us that the present market sentiment in this timeframe is definitely negative, and a further drop is expected for XRP. 

 

Ripple Price Is Expected To Drop To These Levels

Looking at all these negative indicators, it is pretty evident that the Ripple price is likely going to drop further. As such, we expect XRP to fall to the $0.50 psychological level, which coincides with the 50-bar SMA.

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