- The Ripple price slipped below $0.80 on Wednesday, registering a drop of over 6%.
- The current session sees XRP at $0.76, with sellers in control of the session.
The Ripple price has been extremely bearish during the week and could slip below $0.75 during the current session if sellers retain control. XRP had started the week with a drop of over 3%, settling at $0.83. XRP continued to drop on Tuesday, falling by 1.17% and settling at $0.82. Wednesday saw a significant drop on Tuesday, falling by over 6%, slipping below $0.80 and settling at $0.77, before dropping further during the ongoing session.
Ripple Price Chart Indicates XRP Could Drop To $0.75
The Ripple price started the previous week by registering a marginal increase on Monday. However, the price fell back in the red on Tuesday, dropping by 8.05%, slipping below the 20-day SMA and settling at$0.85. The price continued to drop on Wednesday, dropping over 4% and settling at $0.81. XRP recovered on Thursday despite the bearish sentiment, rising by 2.57% and moving to $0.83. However, the price fell back in the red on Friday, dropping by 1.16% to $0.82.
Image: XRP/USD daily
After falling to $0.82 on Friday, the Ripple price recovered over the weekend, rising by 2.67% on Saturday and then rising by 1.01% on Sunday to end the weekend at $0.85. However, with the 20-day SMA coming into play as resistance, XRP fell back on Monday, falling over 3% and dropping to $0.83. Tuesday saw XRP remain in the red, dropping by 1.17%, before falling by over 6% on Monday brought the price down to $0.77. The current session sees XRP at $0.76, and with the Parabolic SAR currently bearish, we could see XRP drop further.
Image: XRP/USD 4-hour
Looking at the 4-hour Ripple price chart, we can see that XRP had dropped to $0.80 on the 31st, falling by over 4%. The price made a strong recovery from this level, pushing back above the 20-bar SMA and settling at $0.84. With the 20-bar SMA acting as support, XRP was able to stay at this level and rose to $0.85, staying at this level until the 3rd, when the price dropped to $0.83 and slipped below the 20-bar SMA. XRP could not push back above the 20-bar SMA and registered a sharp fall on the 5th, dropping to $0.79 and then falling to its current level of $0.75.
The MACD is currently bearish, indicating that we could see the price drop further.
Ripple Price Is Expected To Reach These Levels
Looking at the Ripple price chart, we can see that XRP has dropped to $0.75. If the current sentiment persists, we could see XRP slip below $0.75. However, if XRP is able to find support at this level, we could see the price post a marginal recovery.