Ripple Price Prediction: Can XRP Recover After A Significantly Bearish Week?

Daily Ripple XRP Technical Analysis

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Last Updated January 24th 2022
3 Min Read
  • The Ripple price crashed by 11.49% on Friday, dropping to $0.63 as markets crashed. 
  • Saturday saw a smaller yet significant drop, as the price dropped by over 6% and slipped below $0.60. 

The Ripple price has managed to register a recovery during the ongoing session, with XRP up by nearly 4% at the time of writing. XRP has been incredibly bearish during the week and had dropped by 2.47% on Thursday. Friday saw the biggest drop XRP had experienced in a while, dropping by over 11% and settling at $0.63. On Saturday, the price continued to drop as XRP fell below the $0.60 level and dropped to $0.59 before recovering during the ongoing session. 

Ripple Price Chart Indicates XRP Could Push To $0.65 

The Ripple price had entered the previous weekend on a fairly bullish note, rising by 0.75% on Friday. XRP continued to push up on Saturday, rising to $0.77 on Sunday, before registering a marginal drop on Monday. XRP continued to drop on Tuesday, falling by 2.18% to $0.76. The price continued to drop on Wednesday, as XRP registered a drop of 1.46% and fell to $0.75.

Image: XRP/USD daily

Image: XRP/USD daily chart 012422

The Ripple price continued to drop on Thursday, falling by 2.47% and dropping to $0.71 as sellers continued to dominate the market. Friday saw the bearish sentiment intensify, as XRP dropped by 11.49%, falling to $0.63. On Saturday, the price continued to drop as XRP dropped over 6%, slipped below the $0.60 level, and settled at $0.59. The current session sees XRP up by over 4%, as buyers look to drive the price higher.

We can see that the MACD is currently bearish, but if the price continues to push higher, we could see it flip to bullish.

Image: XRP/USD 4-hour

Image: XRP/USD 4-hour chart 012422

Looking at the 4-hour Ripple price chart, we can see that XRP had dropped below the 50-bar SMA on the 17th, dropping to $0.75. The price continued to drop from this level, falling to $0.74 and $0.72 on the 19th. XRP was able to recover from this level, rising to $0.74 and then pushing above the 20-bar SMA on the 20th when it rose to $0.76. However, after reaching this level, XRP fell drastically, slipping back below the 20-bar SMA and dropping to $0.69 on the 21st. The price continued to drop from this level, falling to $0.57 on the 22nd. However, the price was able to recover from here and rose to its current level of $0.62.

We can see that the Parabolic SAR and MACD have both flipped to bullish, indicating that 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 made a substantial recovery during the current session. If buyers are able to maintain the current sentiment, we could see XRP push to $0.65.