Ripple Price Prediction: XRP Recovers, Looks To Push Towards $0.85

Daily Ripple Technical Analysis

By
Last Updated January 6th 2022
3 Min Read
  • The Ripple price registered a marginal recovery during the ongoing session and is currently up by nearly 1%. 
  • XRP had started the week on a bearish note, dropping by over 3% on Monday. 

The Ripple price registered a slight increase during the current session, with XRP currently up by nearly 1%. XRP had ended the weekend on a positive note but fell back in the red on Monday, falling over 3% and settling at $0.83. The price continued to drop on Tuesday, falling by 1.17% and settling at $0.82. However, the price has recovered during the ongoing session, with XRP back at $0.83. 

Ripple Price Chart Indicates XRP Could Push To $0.85 

The Ripple price started the previous week on a fairly positive note, rising by 0.65% on Monday. However, the price fell back drastically on Tuesday, falling by over 8%, slipping below the 20-day SMA, and settling at $0.85. The price continued to drop on Wednesday, falling over 4% and settling at $0.81, before recovering on Thursday and moving up to $0.83. However, on Friday, XRP was back in the red, falling by 1.16% and settling at $0.82.

Image: XRP/USD daily

Image: XRP/USD daily chart 010622

After dropping to $0.82 on Friday, the Ripple price recovered over the weekend, rising by nearly 3% on Saturday. XRP continued to push up on Sunday, rising by 1.01% and ending the weekend at $0.85. Despite the bullish sentiment, XRP fell back in the red at the start of the week, dropping over 3% on Monday and settling at $0.83. LINK continued to drop on Tuesday, falling to $0.82, before recovering during the current session.

We can see that the Parabolic SAR is currently bearish, but if the price can go past $0.85, we could see it flip to bullish.

Image: XRP/USD 4-hour

Image: XRP/USD 4-hour chart 010622

The 4-hour Ripple price chart shows us that XRP had dropped significantly on the 31st, falling to $0.80. The price made a strong recovery from this level, rising to $0.84 and pushing above the 20-bar SMA. With the 20-bar SMA acting as support, XRP was able to stay at this level for the subsequent few sessions, rising to $0.85. However, the price fell back below the 20-bar SMA on the 3rd, when XRP fell to $0.83. XRP continued to drop from this level, falling to $0.82, then rising to $0.82, and dropping back to $0.82.

The MACD is currently bearish, indicating that we could see the price drop further. However, if the price recovers and pushes above $0.85, we could see it flip to bullish.

Ripple Price Is Expected To Reach These Levels

Looking at the Ripple price chart, we can see that XRP has registered a marginal recovery during the ongoing session. If buyers are able to control the session, we could see XRP push to $0.85.