- The Ripple price is currently down by over 3% during the ongoing session, as sellers drove the price back down.
- XRP had registered marginal recoveries over the past couple of sessions, raising hopes of a sustained recovery.
The Ripple price slipped below $0.60 during the ongoing session, with XRP currently down by over 3%, dampening hopes of a sustained recovery. XRP had started the week on a bearish note, dropping by 2.64% and settling at $0.61. On Tuesday, the price recovered, registering an increase of 0.87% and then rising by 0.24% on Wednesday. However, the current session finds XRP back in the red, as it slipped back below $0.60.
Ripple Price Chart Indicates XRP Struggling To Push Back Above $0.60
The Ripple price started the previous week on a fairly bearish note, registering a drop of over 2% on Monday and then falling by 1.46% on Tuesday, falling to $0.75. XRP continued to drop on Wednesday and Thursday, dropping by 1.76% and 2.47%, respectively, to drop down to $0.71. Friday saw the bearish sentiment intensify, as XRP fell by 11.52%, slipping below the $0.70 level and falling to $0.63. The price continued to drop on Saturday, as the weekend started, with the bearish sentiment persisting, dropping over 6% and settling at $0.59.
Image: XRP/USD daily
The Ripple price managed to register a recovery on Sunday, rising by 5.39% and settling at $0.62. However, the price fell back on Monday, dropping by 2.64% and settling at $0.61, before recovering on Tuesday and registering a marginal increase of 0.85%. Wednesday saw XRP register another marginal increase, rising by 0.24%, before dropping back during the ongoing session.
We can see that the MACD is currently bearish, indicating that we could see the price drop further.
Image: XRP/USD 4-hour
The 4-hour Ripple price chart shows us that XRP had pushed above the 20-bar SMA on the 20th, rising to $0.76. However, the price fell back from this level, falling back below the 20-bar SMA and dropping to $0.69. XRP continued to drop from this level, falling to $0.57 on the 22nd before making a strong recovery and rising to $0.62 on the 24th. At this level, the 20-bar SMA was acting as resistance, and XRP fell back, dropping to $0.56. XRP made another strong recovery from this level, pushing above the 20-bar SMA and rising to $0.61 before rising to $0.63 on the 26th. However, after reaching this level, the price turned bearish, dropping below the 20-bar SMA and moving to its current level of $0.59.
We can see that the Parabolic SAR has just flipped to bearish, but if XRP can manage to recover, we could see it flip back to bullish.
Ripple Price Is Expected To Reach These Levels
Looking at the Ripple price chart, we can see that XRP has registered a fairly significant drop during the ongoing session. If the current sentiment persists, we could see the price drop below $0.59.