Ripple Price Prediction: XRP Registers Marginal Drop After Pushing To $0.66 

Daily Ripple XRP Technical Anlaysis

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Last Updated February 7th 2022
2 Min Read
  • The Ripple price has registered a marginal drop during the ongoing session. 
  • XRP had registered a significant increase on Friday, pushing up by nearly 8%. 

The Ripple price has dropped marginally during the current session, as buyers and sellers struggle to control the market. XRP has been fairly bullish in recent sessions and had pushed up by 1.46% on Thursday, rising to $0.60. Friday saw XRP continue to push higher, as the price rose by nearly 7%, moving above the 20-day SMA and settling at $0.65. The weekend saw XRP remain in the green on Saturday, moving to $0.66, before dropping back during the ongoing session. 

Ripple Price Chart Indicates Buyers And Sellers Struggling To Establish Control  

The Ripple price started the previous weekend on a fairly positive note, registering a marginal increase on Friday. The price continued to push higher over the weekend, rising by over 1% on Saturday before dropping back on Sunday and settling at $0.60. The price recovered on Monday, rising by nearly 3% and moving to $0.61. Tuesday saw the price push higher, rising to $0.62, before dropping back on Wednesday, falling by over 4% and settling at $0.60.

Image: XRP/USD daily

Image: XRP/USD daily chart 020722

After dropping to $0.60 on Wednesday, the Ripple price recovered on Thursday, rising by 1.46%. On Friday, the price continued to push higher, pushing up by nearly 8%, moving above the 20-day SMA, and settling at $0.65. The weekend started with XRP pushing up by 1.56% to $0.66 on Saturday before dropping back marginally during the ongoing session.

We can see that the MACD is currently bullish, indicating that we could see the price push higher.

Image: XRP/USD 4-hour

Image: XRP/USD 4-hour chart 020722

Looking at the 4-hour Ripple price chart, we can see that XRP had dropped to $0.58 on the 31st. The price registered a significant surge from this level, pushing above the 20 and 50-bar SMAs and settling at $0.62. The price stayed at this level for the next few sessions before dropping back on the 2nd, falling back below the 20 and 50-bar SMAs and dropping to $0.60 on the 3rd. With the 20 and 50-bar SMAs acting as resistance, XRP could push above this level only on the 4th, when the price surged back above the two SMAs, rising to $0.67, before dropping back to its current level of $0.66.

We can see that the MACD is bullish, but if the price continues to drop, we could see it flip back to bearish.

Ripple Price Is Expected To Reach These Levels

Looking at the Ripple price chart, we can see that XRP has been extremely bullish in recent sessions but has registered a marginal drop during the current session. If the current sentiment persists, we could see XRP drop to $0.65 or below.