- The Ripple price has registered a marginal drop during the ongoing session.
- XRP had pushed up over the past couple of sessions, moving up to $0.81 on Wednesday.
The Ripple price fell back during the ongoing session, as sellers look to push the price back below $0.80. XRP had started the week on a reasonably bearish note, registering a drop of almost 7% on Monday. On Tuesday, the price recovered, rising by 3.68% and settling at $0.81. Wednesday saw XRP continue to push up, rising by almost 2% and settling at $0.82, before dropping back during the ongoing session, with the price currently at $0.81.
Ripple Price Chart Indicates XRP Could Drop To $0.80
The Ripple price started the previous week on a positive note, rising by 2.68% on Monday. XRP fell back on Tuesday, falling by 1.35% before a strong recovery of almost 6% on Wednesday saw the price move up to $0.86. However, after reaching this level, XRP fell back, registering a marginal drop on Thursday and then falling by almost 7% on Friday and settling at $0.79.
Image: XRP/USD daily
After dropping below $0.80 on Friday, the Ripple price recovered over the weekend, rising by almost 5% on Saturday, before a marginal increase of 0.26% on Sunday saw XRP end the weekend at $0.84. However, Monday saw the price back in the red, dropping by almost 7% and falling to $0.78. The price recovered on Tuesday, rising by 3.68%, and then by 1.87% on Wednesday to settle at $0.82 before dropping back during the current session.
We can see that the Parabolic SAR and MACD are bullish, but if XRP continues to drop, we could see them flip to bearish.
Image: XRP/USD 4-hour
Looking at the 4-hour Ripple price chart, we can see that XRP had pushed above the 20 and 50-bar SMAs on the 12th when the price rose to $0.85. However, the price turned bearish from this level, falling below the 20 and 50-bar SMAs and settling at $0.77 on the 13th. The price pushed up from this level, rising to $0.81, but could not get past the 20-bar SMA, which was acting as resistance, and fell back to $0.77 on the 15th; XRP made a strong recovery from this level, pushing above the 20-bar SMA and moving to $0.82. Here the 50-bar SMA was acting as resistance, and as a result, the price dropped to its current level of $0.81.
We can see that the MACD is bullish, but if the price continues to drop, we could see it flip to bearish.
Ripple Price Is Expected To Reach These Levels
Looking at the Ripple price chart, we see that XRP has dropped during the ongoing session. If the current sentiment persists, we could see XRP drop to $0.80.