- The Ripple price has seen a marginal recovery during the ongoing session, as buyers look to push the price above $1.05.
- XRP has been quite bearish during the current week and had dropped by over 3% on Wednesday.
The Ripple price is looking to push back above $1.05 as buyers take control of the ongoing session. XRP has been bearish since the start of the week, registering a drop of over 2% on Monday. Tuesday saw the price push up further, as XRP rose by almost 3% and settled at $1.06. However, the price fell back on Wednesday, dropping to $1.03 before recovering during the ongoing session and rising to $1.04.
Ripple Price Chart Indicates XRP Could Push Past $1.05
The Ripple price started the previous week in the red, dropping by 1.27% on Monday. XRP registered a sharp drop as it slipped below the 20 and 50-day SMAs and settled at $1.08. Wednesday saw a marginal recovery when TRX rose by 0.64% before dropping back on Thursday, falling by almost 5% and settling at $1.04. However, XRP posted a strong recovery on Friday, as it rose to $1.09, registering an increase of almost 5%.
Image: XRP/USD daily
After rising to $1.09 on Friday, the Ripple price posted a marginal recovery on Saturday before falling on Sunday, registering a drop of 3.65% and settling at $1.05. Monday saw XRP continue to drop, falling by over 2% and settling at $1.03. On Tuesday, the price made a recovery, rising to $1.06, before falling back on Wednesday, dropping by over 3%. The current session sees XRP back in the green, as buyers look to push the price back above $1.05.
We can see that the Parabolic SAR is currently bearish; however, if the price continues to increase, we could see it flip to bullish.
Image: XRP/USD 4-hour
The 4-hour Ripple price chart shows us that XRP had dropped to $1.02 on the 19th after failing to get past the 20-bar SMA. However, XRP made a strong recovery from this level, as it pushed past the 20-bar SMA and rose to $1.09. With the 20-bar SMA acting as support, XRP could stay at this level for the subsequent few sessions before slipping below it on the 22nd and settling at $1.03. With the 20-bar SMA now acting as resistance, XRP could not push past $1.05 until the 24th, when it pushed above the 20-bar SMA to $1.06 before dropping back to $1.01. Currently, we can see that the price is at $1.04, and with the MACD currently bearish, we could see the price push higher.
Ripple Price Is Expected To Reach These Levels
Looking at the Ripple price chart, we can see that XRP has recovered during the current session. If buyers remain in control, we could see the price push beyond $1.05.