- The Ripple price is back in the green during the current session, having registered an increase of over 1% at the time of writing.
- XRP had registered a sharp drop on Tuesday, falling by over 8%.
The Ripple price has registered a slight increase in the ongoing session, as XRP looks to recoup its losses after Tuesday’s significant drop. XRP had a mixed weekend, with the price rising by 1.60% on Saturday but falling back in the red on Sunday to end the weekend at $0.92. Monday saw XRP register a marginal increase before falling back by over 8% on Tuesday, slipping below $0.90 and settling at $0.85.
Ripple Price Chart Indicates XRP Could Push Above 20-Day SMA
The Ripple price started the previous week on an extremely bullish note, pushing above the 20-day SMA and settling at $0.87, registering an increase of over 5%. XRP continued to push up on Tuesday, rising by nearly 8% and moving to $0.94, before a marginal increase of 0.73% on Wednesday took the price above the 200-day SMA. XRP continued to push up from this level, rising to $0.99, where the 50-day SMA was acting as resistance. As a result, the price fell back on Friday, dropping by over 8%, slipping below the 200-day SMA and settling at $0.91.
Image: XRP/USD daily
After dropping to $0.091 on Friday, the Ripple price registered a marginal increase on Saturday, rising by 1.60%, before falling back in the red on Sunday and ending the weekend on a bearish note. Monday saw another marginal increase, but XRP fell back significantly on Tuesday, dropping by over 8%, slipping below the 20-day SMA and settling at $0.85. The current session sees XRP up marginally as buyers look to regain control of the session. We can see that the Parabolic SAR is currently bullish, indicating that the price could recover.
Image: XRP/USD 4-hour
The 4-hour Ripple price chart shows us that XRP had pushed up significantly on the 23rd, rising to $1.00 and then pushing marginally to $1.01. However, after reaching this level, the price fell back, dropping to $0.94 and slipping back below the 20-bar SMA. The price continued to drop from this level, falling to $0.91 on the 25th. At this level, the 200-bar SMA came into play as support, and XRP rose to $0.92 and then dropped to $0.90, where the 50-bar SMA acted as support. As a result, the price pushed back from this level, rising to $0.92 and moving above the 20-bar SMA. However, the price fell back from this level, dropping below all three SMAs and moving to its current level of $0.85.
We can see that the Parabolic SAR and MACD are both currently bearish, but if the price continues to push up, we could see them flip to bullish.
Ripple Price Is Expected To Reach These Levels
Looking at the Ripple price chart, we see that XRP has made a marginal recovery during the current session. If buyers are able to retain the current session, we could see XRP move above the 20-day SMA at $0.86.