- The Ripple price fell back during the current session and is currently down over 2%.
- XRP has been in the red since the beginning of the week and had dropped by 2.17% on Monday.
The Ripple price continued to drop during the current session, as sellers drove the XRP below $0.75. XRP had a mixed weekend, starting with an increase of 0.66% on Friday and then rising by 0.80% on Saturday to settle at $0.77. The price fell back on Sunday, registering a marginal fall, and then fell over 2% on Monday, dropping to $0.76. The current session sees XRP down by almost 3%, as sellers look to push the price further down.
Ripple Price Chart Indicates XRP Could Drop Towards $0.70
The Ripple price started the previous weekend on a fairly bearish note, dropping by 2.33% on Saturday before recovering on Sunday and settling at $0.75, registering an increase of 0.98%. However, XRP fell back on Monday, dropping by 1.71% before recovering on Tuesday, rising by 4.11% and settling at $0.77. The price continued to push higher on Wednesday, as the price rose by almost 4% and settled at $0.69. Despite the positive sentiment, the price fell back on Thursday, falling by 3.78% and settling at $0.76.
Image: XRP/USD daily
After a considerable drop on Thursday, the Ripple price recovered on Friday, rising by 0.66% and settling at $0.77. The weekend was a mixed bag for XRP as it rose by 0.80% on Saturday and then registered a marginal drop on Sunday to end the weekend at $0.77. The current week started with the bearish sentiment persisting, with XRP dropping over 2% on Monday and settling at $0.76. The price continued to drop during the current session, as sellers drove the price towards $0.70.
We can see that the Parabolic SAR is currently bearish, indicating that we could see the price drop further.
Image: XRP/USD 4-hour
The 4-hour Ripple price chart shows us that XRP had surged to $0.79 on the 13th and then dropped to $0.76, where the 20-bar SMA acted as support. As a result, XRP pushed up to $0.78 before slipping back below the 20 and 50-bar SMAs and settling at $0.75. The price recovered from this level, rising back above the 50-bar SMA and moving to $0.77. XRP moved past the 20-bar SMA only on the 15th, when it rose to $0.78. However, XRP turned bearish after reaching this level, dropping below the 20-bar SMA and settling at $0.76, and then going below the 50-bar SMA and settling at its current level of $0.74.
The Parabolic SAR and MACD are both currently bearish, indicating that the price could drop further.
Ripple Price Is Expected To Reach These Levels
Looking at the Ripple price chart, we see that XRP has registered a considerable drop during the ongoing session. If the current bearish sentiment persists, we could see XRP towards $0.70.