- The Ripple price continued to drop after Wednesday’s marginal drop and is currently down to $0.97.
- XRP had been quite bullish since the weekend and pushed above the 200-day SMA on Monday.
The Ripple price fell back during the ongoing session, as sellers pushed the price down to $0.97 and look to push it further down. XRP had started the week on a positive note, as the price pushed up by 2.53% on Sunday, ending the weekend on a positive note. Monday saw the price continue to push up, rising above the 200-day SMA and settling at $0.99. After posting a marginal rise on Tuesday, XRP fell back on Wednesday, dropping by 0.78%.
Ripple Price Chart Indicates XRP Could Drop To $0.95
The Ripple price started the previous week on a bearish note, as it fell by over 2% on Monday. XRP recovered on Tuesday, as the price rose up to $1.06 but fell back in the red on Wednesday, dropping by over 3% and settling at $1.03. After a marginal recovery on Thursday that saw XRP rise by 1,04%, the price fell back on Friday, registering a drop of almost 10%, slipping below the 200-day SMA and settling at $0.94.
Image: XRP/USD daily
After dropping to $0.94 on Friday, the Ripple price recovered over the weekend, rising by 0.56% on Saturday and 2.53% on Sunday to end the weekend at $0.96. Monday saw XRP continue to push higher, as it moved above the 200-day SMA and settled at $0.99. After pushing up marginally on Tuesday, the price dropped on Wednesday, falling by 0.78%. The current session sees XRP down to $0.97, as sellers look to push the price to $0.95.
We can see that the Parabolic SAR has flipped to bullish; however, if the price continues to drop, we could see it flip back to bearish.
Image: XRP/USD 4-hour
Looking at the 4-hour Ripple price chart, we can see that XRP had dropped to $0.93 on the 26th after registering a sharp fall. The price stayed at this level for the next few sessions before dropping further to $0.90. XRP pushed up marginally from this level before rising above the 20-bar SMA on the 29th and settling at $0.96. XRP continued to push higher, moving up to $0.99, where the 50-bar SMA was acting as resistance. XRP moved past this level on the 30th, when it pushed to $1.01. With the 50-bar SMA now acting as support, XRP could stay at this level for the subsequent few sessions before dropping below the 20 and 50-bar SMAs and moving to its current level of $0.97.
We can see that the MACD has flipped to 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 fallen during the ongoing session. If the current sentiment persists, we could see XRP drop to $0.95.