- The Ripple price is currently down by nearly 2%.
- XRP had been extremely bearish over the past week and had dropped by over 6% on Wednesday.
The Ripple price fell back in the red during the ongoing session, as buyers pushed the price back below $0.75. XRP had entered the weekend on a fairly bearish note, dropping by over 2% on Friday and settling at $0.76. The price continued to drop over the weekend, falling by 2.33% on Saturday, but recovered on Sunday, rising by 0.98% and settling at $0.75. The current session sees XRP back in the red, with the price at $0.74.
Ripple Price Chart Indicates XRP Could Drop Towards $0.70
The Ripple price was quite bullish at the start of the previous weekend, rising by nearly 3% on Saturday and then rising by 1.01% on Sunday to end the weekend at $0.85. The price fell back in the red on Monday, as XRP dropped by over 3% and settled at $0.83. The price continued to drop on Tuesday, falling to $0.82 after a drop of 1.17%. Wednesday saw XRP drop by over 6%, falling to $0.77, before making a marginal recovery on Thursday and rising by 1.05%.
Image: XRP/USD daily
After registering a marginal recovery on Thursday, the Ripple price fell back on Friday, dropping by 2.12% and settling at $0.76. The weekend saw the bearish sentiment persist, as XRP dropped to $0.74 on Saturday. Despite the bearish sentiment, XRP recovered on Sunday, rising by 0.98%, before falling back in the red during the current session.
We can see that the Parabolic SAR is 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 registered a sharp drop on the 6th, falling to $0.74. The price recovered from this level, rising to $0.078, but turned bearish after reaching this level and fell back to $0.74. XRP pushed back up from this level and rose to $0.77, where the 20-bar SMA acted as resistance. As a result, XRP fell back, dropping to $0.72 and then rising to $0.76 on the 9th, pushing above the 20-bar SMA. However, XRP could not stay at this level and fell back below the 20-bar SMA, falling to its current level of $0.73.
Ripple Price Is Expected To Reach These Levels
Looking at the Ripple price chart, we see that XRP has started the week on a bearish note, dropping considerably during the ongoing session. If the current trend persists, we could see XRP drop towards $0.70.