- The Ripple price continued to drop during the current session and is presently down by over 3%.
- XRP has been extremely bearish since Sunday and had registered a drop of almost 10% on Monday.
The Ripple price remained in the red during the ongoing session, as sellers continue to dominate the markets. XRP had a fairly positive start to the weekend, rising by almost 5% and moving to $0.82 on Saturday. XRP fell back on Sunday, falling by 5.50% and settling at $0.77, and then dropped below the 20 and 50-day SMAs, falling to $0.70 on Sunday and ending the weekend in the red. The current session sees XRP at $0.68, with sellers looking to push the price lower.
Ripple Price Chart Indicates XRP Looking To Push Back Above $0.70
The Ripple price started the previous weekend on a fairly positive note, rising by 8.52% on Saturday and moving to $0.83. However, the price fell back on Sunday, falling by 3.19% and settling at $0.80. Monday saw XRP register a marginal drop before making a strong recovery on Tuesday, rising by over 6% and settling at $0.85. XRP was back in the red on Wednesday, falling by 1.69% and then dropping by over 8%, settling at $0.68.
Image: XRP/USD daily
Despite the bearish sentiment, The Ripple price recovered on Friday, rising by 2.11% and settling at $0.78. The price continued to push higher over the weekend, rising by almost 5% on Saturday and then dropping by 5.50% on Sunday, ending the weekend at $0.77. Monday saw the bearish sentiment intensify, as the price dropped by almost 10%, dropping below the 20 and 50-day SMAs and settling at $0.70, and then falling to $0.67 during the ongoing session.
We can see that the MACD is currently bearish, indicating that we could see the price drop further.
Check Out: Is It a Good Time to Buy Ripple?
Image: XRP/USD 4-hour
Looking at the 4-hour Ripple price chart, we can see that XRP had dropped to $0.81 on the 17th, slipping below the 20 and 50-bar SMAs. The price continued to drop from this level, falling to $0.76, before registering a recovery and rising to $0.79. XRP fell back from this level, dropping to $0.76, before making a strong recovery and rising to $0.79. At this level, the 20-bar SMA came into play as resistance, and the price fell back, dropping to $0.77 on the 19th. XRP made a significant surge from this point, pushing past the 20 and 50-bar SMAs and rising to $0.83 before turning bearish, dropping below the 20 and 50-bar SMAs and falling to $0.77 on the 21st. After registering a marginal increase, XRP dropped considerably from this level, slipping below the 200-bar SMA and falling to its current level of $0.68.
We can see that the Parabolic SAR and MACD are both bearish, indicating that we could see the price drop further.
Ripple Price Is Expected To Reach These Levels
The Ripple price chart shows us that XRP has been extremely bearish over the past few sessions. If the current sentiment persists, we could see XRP drop to $0.65 before making a recovery.