- The Ripple price fell back in the red during the ongoing session, as XRP fell below $0.85.
- XRP had been quite bearish during the week, dropping to $0.81 on Wednesday.
The Ripple price has dropped marginally during the ongoing week, as sellers look to push the price back towards $0.80. XRP had dropped to $0.81 on Wednesday before pushing back up on Thursday, rising to $0.83. The price fell back on Friday, falling to $0.82, before recovering over the weekend. Saturday saw XRP push up to $0.85 before dropping marginally during the ongoing session.
Ripple Price Chart Indicates Sellers Looking To Push XRP Towards $0.80
The Ripple price was extremely bearish going into the previous weekend, dropping by over 8% on Friday, slipping below the 200-day SMA and settling at $0.91. The price recovered over the weekend, rising by 1.60% on Saturday, but fell back in the red on Sunday, ending the weekend at $0.92. Monday saw XRP post a marginal increase, rising by 0.64%. However, the price dropped drastically on Tuesday, dropping by over 8% and slipping below the 20-day SMA, settling at $0.85.
Image: XRP/USD daily
After dropping to $0.85 on Tuesday, the Ripple price continued to drop on Wednesday, falling by nearly 4% and settling at $0.81. Thursday saw XRP post a recovery, as it rose by 2.58%, moving to $0.83, before falling back in the red on Friday, dropping to $0.82. On Saturday, the price pushed back up, rising by 2.68% and settling at $0.85, before dropping back during the ongoing session.
We can see that the Parabolic SAR and MACD are both currently bearish, indicating that the price could drop further.
Image: XRP/USD 4-hour
Looking at the 4-hour Ripple price chart, we can see that XRP had slipped below the 20 and 50-bar SMAs, dropping to $0.89. The price continued to drop from this level, falling below the 200-bar SMA and settling at $0.81 on the 30th. The price pushed back from this level, rising to $0.84, where the 20-bar SMA acted as resistance. As a result, the price fell back, dropping to $0.80 and then pushing above the 20-bar SMA on the 1st, rising to $0.84. With the 20-bar SMA now acting as support, XRP pushed up to $0.85 before dropping to its current level of $0.83.
We can see that the MACD and Parabolic SAR are both currently bullish, but if the price 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 dropped during the ongoing session. If sellers retain control of the market, we could see XRP drop towards $0.80.