Ripple Price Analysis: Sellers Look To Push XRP Below $1.05

Daily Ripple Price Forecast

Last Updated November 23rd 2021
3 Min Read
  • The Ripple price started the current week on a bearish note, with the price marginally down. 
  • XRP had registered a sharp fall on Sunday, with the price falling by almost 4%. 

The Ripple price started the week in the red, as sellers pushed the price down on Monday, getting the week off to a bearish start. XRP had dropped significantly on Thursday but had pushed back up on Friday after registering an increase of almost 5%. Saturday saw XRP push further, as it registered an increase of 0.69%, before falling on Sunday and dropping to $1.05, after registering a fall of 3.65%/ 

Ripple Price Chart Indicates XRP Could Slip Below $1.05 

The Ripple price had started the previous weekend on a fairly bullish note as XRP dropped by over 2% on Friday. The weekend did not see much movement, with XRP registering only a marginal increase on Saturday and a marginal drop on Sunday to end the weekend at $1.18. Monday saw the bearish sentiment continue, as XRP fell by 1,27%, dropping to $1.17. XRP registered a sharp drop on Tuesday, slipping below the 20-day and 50-day SMAs and dropping to $1.08, a drop of over 7%. However, despite the bearish session on Tuesday, XRP could make a marginal recovery on Wednesday and rise to $1.09.

Image: XRP/USD daily chart 112321

Image: XRP/USD daily

The Ripple price fell back in the red on Thursday, as it fell by almost 5%, dropping to $1.04. However, it recovered on Friday, as it rose by 4.78%, rising to $1.09. The weekend saw XRP push up marginally on Saturday, as the price registered an increase of 0.69%. However, the price registered a drastic fall on Sunday, falling by 3.65% and settling at $1.05. The current week started in the same vein, with the price currently down by almost 1%.

Looking at the MACD, we can see that it is currently bearish, indicating that the price could drop further during the current session.

Image: XRP/USD 4-hour chart 112321

Image: XRP/USD 4-hour

The 4-hour Ripple price chart shows us that XRP had fallen sharply on the 16th, slipping below the 200-bar SMA and settling at $1.12. The price continued to drop from this level, as it fell to $1.06 before recovering and rising to $1.12. However, at this level, the 20-bar SMA acted as resistance, and the price dropped to $1.02 before rising and pushing back above the 20-bar SMA and settling at $1.09. With the 20-bar SMA now acting as resistance, XRP stayed at this level until the 20th, when it dropped below the 20-bar SMA. However, it recovered from this level, rising to $1.09, falling below the 20-bar SMA, and dropping to $1.03.

We can see that XRP is currently at $1.04, with a bearish Parabolic SAR indicating that the price could drop further.

Ripple Price Is Expected To Reach These Levels

Looking at the Ripple price chart, we see that the price has already dropped below $1.05. If the current sentiment persists, we could see the price drop below its support level of $1.04.