Ripple Technical Analysis: XRP Reaches Highest Level Since May 2018

Last Updated July 23rd 2021
2 Min Read
  • The Ripple price jumped by almost $0.30 this Monday.
    • The MACD shows increasing bullish momentum.

    Prior to Sunday, the Ripple price has been trending horizontally between $0.546 and $0.60 between March 27 and April 3. However, over the next two days, XRP jumped from $0.577 to $0.92, reaching an intra-day high of $0.95. As things stand, XRP is trending around $0.854. 

     

    Ripple Price Jumped From $0.63 to $0.92 This Monday

    The buyers lost steam as soon as XRP neared the $1 psychological level. However, there are two signs that show that overall sentiment is positive – the MACD shows increasing bullish momentum and the parabolic SAR has flipped from negative to positive.

    Image: XRP/USD daily

    However, there are a couple of signals in the 4-hour chart that tells us that a further bearish correction could be around the corner:

    • The TD sequential detector has flashed the sell signal in the form of a green-nine candlestick.
    • The relative strength index (RSI) is still hovering around the overbought zone.

    Both these indicators tell us that a further drop in XRP is expected.

    Image: XRP/USD 4-hour

    Ripple Price Is Expected To Reach These Levels

    The Ripple price may drop to $0.80 psychological level before the RSI enters the neutral territory. After that, it will be interesting to see if more buyers are going to enter the market and push XRP back above the $1 mark.

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