- The Ripple price posted a marginal recovery during the current session.
- XRP had registered a drastic fall on Tuesday, dropping to $1.08.
The Ripple price pushed up marginally during the current session, registering a drop of 0.34%. XRP has been quite bearish since the weekend, despite a marginal increase on Saturday. The price fell back on Sunday and dropped to $1.17 on Monday, starting the week on a bearish note. The price continued to drop on Tuesday, dropping by over 7% and settling at $1.08. The price also slipped below the 20 and 50-day SMAs on Tuesday.
Ripple Price Chart Indicates XRP Could Drop To $1.05
The Ripple price was quite bullish at the end of the previous weekend as the price pushed up by almost 6% on Sunday. XRP remained in the green on Monday, as it rose to $1.28, an increase of over 5%. However, XRP fell into the red after reaching this level, as it dropped by 1.95% on Tuesday. Wednesday saw an even bigger fall, as XRP dropped by over 5% to settle at $1.19. Thursday saw the price recover, as it pushed up to $1.21, but it fell back on Friday, dropping by 2.14% to drop to $1.18.
Image: XRP/USD daily
The Ripple price did not register much movement over the weekend, as the price registered only a marginal increase on Saturday before registering a marginal drop on Sunday. However, Monday saw the price drop as XRP fell by 1.27%. The bearish sentiment persisted on Tuesday, as sellers pushed the price below the 20 and 50-day SMAs, with the price dropping to $1.08. We can see that XRP is currently at $1.08, and with the Parabolic SAR and MACD both bearish, we could see the price drop further. However, if the price recovers, then we could see them flip to bullish.
Image: XRP/USD 4-hour
Looking at the 4-hour Ripple price chart, we can see that TRX had dropped to $1.19 on the 11th, slipping below the 20 and 50-bar SMAs. The price recovered from this level, pushing back above the 50-bar SMA to $1.24. However, with the 20-bar SMA acting as resistance at this price level, XRP dropped to $1.17, slipping below the 50-bar SMA. With the 50-bar SMA now acting as resistance, XRP could only push up to $1.19 before dropping to $1.17 as a result of the bearish cross between the 20 and 50-bar SMAs. XRP pushed past the 20-bar SMA on the 15th, rising to $1.20, before turning bearish and slipping below the 20 and 200-bar SMAs to settle at $1.06. Currently, XRP is at $1.09, and with the Parabolic SAR and MACD both bearish, we could see the price drop further.
Ripple Price Is Expected To Reach These Levels
The Ripple price chart shows us that buyers and sellers are vying for control during the current session. If the price recovered, we could see XRP rise to $1.11, but if sellers retake control, XRP could drop towards $1.05.