- The Ripple price continued to drop during the ongoing session and is currently down by nearly 9%.
- XRP had been bearish all of the previous week and had registered a drop of over 11% on Friday.
The Ripple price continued its bearish run, with the current session seeing XRP dip below $0.60 and presently at $0.57. XRP had registered a significant drop of 11.49% on Friday, with the price falling to $0.63. The price continued to drop on Saturday, falling by 6.31% and settling at $0.59. Despite the bearish sentiment, XRP was able to register an increase of over 5% on Sunday, rising to $0.62, before falling back during the ongoing session.
Ripple Price Chart Indicates XRP Could Drop To $0.65
The Ripple price started the previous weekend on a fairly positive note, registering an increase of 0.75% on Friday. On Saturday, the price continued to push up, rising by 0.74%, before dropping back marginally on Sunday and ending the weekend at $0.77. After Sunday’s marginal drop, XRP dropped further on Monday, falling by 2.18% to $0.76. XRP remained in the red on Tuesday and Wednesday as well, dropping by 1.46% and 1.76%, respectively, and ending Wednesday at $0.73.
Image: XRP/USD daily
The Ripple price remained in the red on Thursday, as XRP dropped by 2.47% and settled at $0.71. Friday saw a huge drop as XRP fell by 11.49%, slipping below $0.70 and settling at $0.63. A further drop of over 6% took XRP below the $0.60 level on Saturday, when the price dropped to $0.59. XRP made a fairly strong recovery on Sunday, rising by 5.39% and moving to $0.062, but fell back in the red on Monday and is currently down by nearly 9%.
The Parabolic SAR is currently bullish, indicating that we could see the price drop further.
Image: XRP/USD 4-hour
Looking at the 4-hour Ripple price chart, we can see that XRP had slipped below the 50-bar SMA on the 17th when the price dropped to $0.75. XRP continued to drop from this level and fell to $0.72 on the 19th. XRP was able to register a recovery from this level, pushing above the 20-bar SMA and rising to $0.76. However, after reaching this level, the price turned bearish and fell back below the 2-bar SMA, falling to $0.69 on the 21st. XRP continued to drop from this level, falling to $0.57 on the 22nd, before recovering and rising to $0.61, before dropping to $0.59. The price pushed back up from this level, rising to $0.62, before dropping to its current level of $0.57.
We can see that the Parabolic SAR has just flipped to bearish, and if the price continues to drop, we could see the MACD flip to bearish as well.
Ripple Price Is Expected To Reach These Levels
Looking at the Ripple price chart, we see that XRP has registered a significant drop during the ongoing session. If sellers remain in control of the session, we could see the price drop to $0.55.