- The Ripple price fell back significantly during the ongoing session and is currently down by over 2%.
- XRP had been quite bearish during the previous week and had dropped to $0.80 on Sunday.
The Ripple price failed to move past $0.85, as XRP fell back after hitting $0.85 on Tuesday, with the price currently at $0.83. XRP had ended the weekend on a bearish note, dropping by over 3% to $0.80 and then registering a marginal drop on Monday. XRP made a strong recovery on Tuesday, as the price surged by over 6%, rising to $0.85, before dropping back during the ongoing session.
Ripple Price Chart Indicates XRP Could Drop To $0.80
The Ripple price was quite bullish over the previous weekend, pushing up by 1.56% on Saturday and then rising by 2.60% on Sunday to end the weekend at $0.68. XRP surged on Monday as it rose by nearly 22%, going past the 50-day SMA and moving to $0.83. The price remained bullish on Tuesday, as it rose to $0.87 before dropping back on Wednesday, falling to $0.86. XRP remained in the red on Thursday, as it fell by nearly 5% and dropped to $0.82.
Image: XRP/USD daily
The Ripple price remained bearish on Friday as well, falling by 7.49% and settling at $0.76. The weekend saw XRP make a strong recovery, as it surged by almost 9%, rising to $0.83, before dropping back on Sunday, falling by 3.19% and ending the weekend at $0.80. XRP registered a marginal drop on Monday before rising by over 6% on Tuesday and moving to $0.85. The current session sees XRP at $0.83 as sellers look to drive the price lower.
We can see that the MACD is bullish, but if the price continues to drop, we could see it flip to bearish.
Image: XRP/USD 4-hour
The 4-hour Ripple price chart shows us that XRP had pushed up to $0.89 on the 9th. The price fell back from this level, falling to $0.86, and then slipping below the 20-bar SMA and dropping to $0.82. XRP continued to drop from this level and fell to $0.76 on the 12th, where the 50-bar SMA acted as support. As a result, XRP recovered, rising to $0.83 and pushing back above the 20-bar SMA before dropping back, falling below the 20 and 50-bar SMAs and moving to $0.78 on the 14th. XRP was able to make a strong recovery from this point, rising to $0.85 after pushing above the 20 and 50-bar SMAs before falling to its current level of $0.83.
We can see that the Parabolic SAR and MACD are bullish, but if XRP continues to drop, 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 registered a drop during the current session. If XRP continues to fall, we could expect it to drop to $0.80 before recovering.