Ripple Price Prediction: XRP Manages To Stay Above $0.60 Despite Marginal Drop

Daily Ripple XRP Technical Analysis

By
Last Updated February 3rd 2022
3 Min Read
  • The Ripple price fell back in the red during the ongoing session, as sellers forced the price down marginally. 
  • XRP had gotten off to a fairly strong start to the week and had pushed up to $0.62 on Tuesday. 

The Ripple price is down during the ongoing session, as XRP failed to move above $0.62 despite a fairly positive start to the week. XRP had started the weekend on a fairly positive note but fell back on Sunday, dropping by 2.49% and settling at $0.60. The price recovered on Monday, rising by nearly 3%, and then rising by 1.70% on Tuesday to move up to $0.62 before dropping back during the ongoing session. 

Ripple Price chart Indicates XRP Could Drop Back To $0.60 

The Ripple price started the previous weekend in the red, dropping by over 6% on Saturday and falling to $0.59. However, the price recovered on Sunday, rising by over 5% and ending the weekend at $0.62. Monday saw XRP back in the red, as the price fell to $0.61 before registering a marginal recovery on Tuesday and rising by 0.87%. Wednesday saw XRP register another marginal recovery, before dropping back on Thursday, falling by 1.57% and settling at $0.60, before registering another minor recovery on Friday and rising by 0.30%.

Image: XRP/USD daily

Image: XRP/USD daily chart 020322

The weekend started with the positive sentiment persisting, as the Tron price rose by 1.01% on Saturday, moving to $0.61. However, the price fell back on Sunday, dropping by over 2% and ending the weekend at $0.60. Despite the bearish end to the weekend, XRP was back in the green on Monday, rising by nearly 3% and moving to $0.61. The price continued to push higher from this level, rising to $0.62 on Tuesday. The current session sees XRP down marginally, as sellers look to push the price lower.

We can see that the MACD has flipped to bullish, indicating that we could see the price recover.

Image: XRP/USD 4-hour

Image: XRP/USD 4-hour chart 020322

Looking at the 4-hour Ripple price chart, we can see that XRP had pushed above the 20-bar SMA on the 25th, rising to $0.63 on the 26th. However, after reaching this level, the price fell back below the 20-bar SMA and fell to $0.59. XRP registered a marginal recovery from this level, rising to $0.60, but could not move past the 20-bar SMA and fell back, dropping to $0.59 on the 28th. XRP made a fairly strong recovery from this level, as the price pushed above the 20 and 50-bar SMAs, rising to $0.62 on the 30th. However, the price fell back after reaching this level, slipping back below the 20 and 50-bar SMAs and falling to $0.58. XRP recovered from this point as it surged past the 20 and 50-bar SMAs, rising to $0.62 and then moving to its current level.

We can see that the Parabolic SAR is currently bullish, indicating that we could see the price push higher. However, if XRP drops, we could see it flip to bearish.

Ripple Price Is Expected To Reach These Levels

The Ripple price chart shows us that XRP is marginally down during the ongoing session, as sellers try to push the price lower. If the current sentiment persists, we could see XRP drop back to $0.60.