- The Ripple price has fallen back by over 2% during the ongoing session as sellers pushed the price down.
- XRP has been extremely bullish in recent sessions and had surged by almost 22% on Monday.
The Ripple price surged to $0.87 on Tuesday before falling back during the ongoing session, as sellers pushed the price down. XRP has been extremely bullish in recent sessions, ending the weekend at $0.68. The price then surged by over 21% on Monday, pushing past the 50-day SMA and moving to $0.83, before registering another increase on Tuesday and pushing up to $0.87. The current session sees XRP down by nearly 3% as sellers push the price down.
Ripple Price Chart Indicates XRP Could Drop To $0.80
The Ripple price ended the previous weekend on a bearish note as it dropped by 2.51% on Sunday, falling to $0.60. Monday saw XRP recover, as it rose to $0.61 and then registered an increase of 1.70% on Tuesday, rising to $0.62. However, the price fell back on Wednesday, dropping by over 4% and settling at $0.60, before rising by 1.46% on Thursday. Friday saw XRP surge by 7.54%, as the price moved to $0.65, pushing above the 20-day SMA.
Image: XRP/USD daily
The weekend saw the Ripple price continue to push higher, as it registered an increase of 1.56% on Saturday and then rose by nearly 3% on Sunday to end the weekend at $0.68. Monday saw XRP surge by nearly 22%, pushing past the 50-day SMA and settling at $0.83, and then registering another increase of 5.45% on Tuesday, moving to $0.87. However, the current session sees XRP back in the red, as sellers look to push the price towards $0.80.
We can see that the MACD is currently bullish, but if the price continues to drop, we could see it flip to bearish.
Image: XRP/USD 4-hour
Looking at the 4-hour Ripple price chart, we see that XRP had dropped below the 20 and 50-bar SMAs on the 3rd when the price fell to $0.60. XRP registered another marginal drop from this level, falling to $0.59, before recovering and pushing back above the 20 and 50-bar SMAs and settling at $0.67 on the 5th. XRP fell back from this level, registering a marginal drop, before recovering and surging past the 200-bar SMA, rising to $0.77. The price continued to push higher from this level, surging to $0.89, before dropping to $0.82. The price recovered from this level and moved to its current position of $0.85.
We can see that the Parabolic SAR and MACD are bullish, but if XRP continues to drop, we could see them flip to bearish.
Ripple Price Is Expected To Reach These Levels
Looking at the Ripple price chart, we see that XRP had been extremely bullish in recent sessions. However, the price fell back during the current session and is down by nearly 3%. We could see XRP recover from this level or drop to $0.80.