Ripple Price Analysis: XRP Down By over 2% As Sellers Take Control

Daily Ripple Technical Analysis

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Last Updated November 22nd 2021
3 Min Read
  • The Ripple price dropped to $1.07 during the current session, dropping by over 2%. 
  • XRP had made a strong recovery on Friday, rising by almost 5% and moving to $1.09. 

The Ripple price fell back on Sunday, as sellers pushed the price down to $1.07. XRP has been quite bearish over the previous week, as it dropped by almost 5% on Thursday after registering a marginal increase on Wednesday. XRP made a strong recovery on Friday, rising by 4.78% and then by 0.68% on Saturday to settle at $1.09. However, the price fell back on Sunday, dropping to $1.07. 

Ripple Price Chart Indicates XRP Could Drop To $1.05 

The Ripple price started the previous weekend on a bearish note, as it ended Friday down by over 2%, settling at $1.18. The weekend did not see much movement, as XRP only registered a marginal increase on Saturday and then dropped marginally on Sunday. However, the bearish sentiment persisted on Monday, as the price dropped by 1.27%, settling just above the 20-day SMA at $1.17. Tuesday saw a significant fall in the price of XRP, as it slumped below the 20 and 50-bar SMAs and settled at $1.08, registering a fall of over 7%, before recovering on Wednesday and settling at $1.09.

Image: XRP/USD daily chart 112221

Image: XRP/USD daily

After posting a marginal recovery on Wednesday, the Ripple price registered a sharp drop on Thursday, falling by almost 5% and settling at $1.04. However, the price recovered on Friday, as it pushed back by 4.78% and settled back at $1.09. The price continued to push up on Saturday as XRP recorded an increase of 0.69%. However, the current session sees XRP back in the red, with sellers looking to push the price down to $1.05.

We can see that the Parabolic SAR is currently bearish, indicating the price could drop further. However, if buyers retake control, we could see it flip to bullish.

Image: XRP/USD 4-hour chart 112221

Image: XRP/USD 4-hour

The 4-hour Ripple price chart shows us that XRP had slipped below the 20-bar SMA on the 15th when it dropped to $1.18. The price continued to drop from this level, as it fell to $1.12, slipping below the 200-bar SMA. The bearish sentiment persisted at this level as well and dropped to $1.06. However, after dropping to this level, the price recovered, pushing up to $1.09, but with the 20-bar SMA acting as resistance at this level, it dropped to $1.02. The price picked up from this level and pushed above the 20-bar SMA to settle at $1.09. The price maintained this level for the next few session before dropping to $1.06. Currently, XRP is at $1.07, with the current session in the red. However, the MACD is currently bullish, indicating that the price could recover. However, if the price continues to drop, then we could see it flip to bearish.

Ripple Price Is Expected To Reach These Levels

Looking at the Ripple price chart, we see that the current session has seen XRP fall significantly. If the current trend continues, we could see XRP drop to $1.05.