- The Ripple price has dropped during the ongoing session, with XRP facing strong resistance thanks to the 20-day SMA.
- XRP has been unable to move past $0.85 since Tuesday when it dropped by over 8%.
The Ripple price fell back during the ongoing session, with XRP down by nearly 2%, with sellers looking to push the price further down. XRP had dropped by 1.18% on Friday after a fairly volatile session, dropping to $0.82. However, the weekend saw a recovery, with the price rising by nearly 3% on Saturday, moving to $0.85. Sunday saw another increase, with the price rising by 0.99%, ending the weekend on a positive note before falling back during the current session.
Ripple Price Chart Indicates XRP Could Slip Below $0.84.
The Ripple price started the previous weekend on a positive note, rising by 1.60% on Saturday, but fell back in the red on Sunday, registering a marginal drop and ending the weekend at $0.92. The price was back in the green on Monday, starting the week on a positive note. However, XRP fell back significantly on Tuesday, dropping by over 8%, slipping below the 20-day SMA and settling at $0.85. Wednesday saw XRP continue to drop, falling by nearly 4% and settling at $0.81.
Image: XRP/USD daily
The Ripple price posted a fairly strong recovery on Thursday, rising by 2.58% and settling at $0.83. However, XRP was back in the red on Friday, falling by 1.18% and dropping to $0.82. XRP recovered over the weekend, as the price rose by 2.68% on Saturday and then pushed up by 0.99% on Sunday to end the weekend at $0.85. The current session sees XRP back in the red, unable to move past the 20-day SMA.
We can see that the Parabolic SAR is currently bearish, 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 200-bar SMA on the 28th, dropping to $0.86. The price continued to drop from this level, falling to $0.81 on the 30th. From this level, XRP pushed $0.84, where the 20-bar SMA was acting as resistance. As a result, the price fell back, dropping to $0.80 on the 31st. The price made a strong recovery from this level, pushing above the 20-bar SMA and settling at $0.84 on the 1st. With the 20-bar SMA now acting as support, XRP could stay at this level, rising to $0.85 before dropping to its current level of $0.84.
We can see that the Parabolic SAR and MACD are both bearish, indicating that the price could recover. However, if the price drops, we could see them flip to bearish.
Ripple Price Is Expected To Reach These Levels
Looking at the Ripple price chart, we see that XRP has dropped during the ongoing session. If the price continues to drop, we could see XRP drop to $0.80. However, if the price is able to recover, we could see XRP push towards the 20-bar SMA.