- The Ripple price is down by over 2% during the ongoing session, as bearish sentiment drove the price down.
- XRP had registered a sharp increase on Friday, surging by over 10% and moving to $0.77.
The Ripple price fell back in the red over the weekend, as sellers pushed the price down significantly over the past couple of sessions. XRP had registered a sharp drop on Wednesday after failing to move past the 50-day SMA, falling to $0.69. Thursday saw XRP register only a marginal increase before surging on Friday, pushing past the 50-day SMA and rising to $0.77. However, Saturday saw the price back in the red, falling by 2.44% on Saturday and then down by almost 2% during the current session.
Ripple Price Chart Indicates 50-Day SMA Could Act As Support
The Ripple price went into the previous weekend on a fairly positive note, registering an increase of 2.11% on Friday. Saturday saw XRP continue to push higher, rising by almost 5% and moving to $0.82. However, the price fell back on Sunday, dropping by 5.50% and dropping to $0.77. Monday saw the bearish sentiment intensify, with XRP dropping by almost 10%, slipping below the 20 and 50-day SMAs and settling at $0.70. XRP registered a fairly strong recovery on Tuesday despite the bearish sentiment, pushing up by almost 3% and settling at $0.72.
Image: XRP/USD daily
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After rising to $0.72 on Tuesday, the Ripple price fell back on Wednesday, thanks to the 50-day SMA acting as resistance, dropping by 3.52% and settling at $0.69. Thursday saw the price remain at $0.69 before surging on Friday, rising by almost 11%, pushing past the 50-day SMA and settling at $0.77. The price fell back in the red over the weekend, falling by 2.44% on Saturday and then dropping to $0.73 during the ongoing session.
We can see that the MACD is currently bearish, but if XRP finds support at the 50-day SMA and recovers, we could see it flip to bullish.
Image: XRP/USD 4-hour
The 4-hour Ripple price chart shows us that XRP had dropped to $0.67 on the 22nd. XRP made a fairly strong recovery from this level, pushing above the 200-bar SMA and moving to $0.73 on the 23rd. At this level, the 20-bar SMA was acting as resistance, and XRP fell back significantly, dropping below the 200-bar SMA and falling to $0.63. XRP made another strong recovery from this level, pushing above the 20-bar SMA on the 25th and rising to $0.73. XRP continued to push higher from this level, surging past the 200 and 50-bar SMAs and moving to $0.77 on the 26th. However, after reaching this point, the price turned bearish and fell below the 50-bar SMA, moving to its current level of $0.74.
We can see that the Parabolic SAR and MACD are both bullish, indicating that we could see the price push higher.
Ripple Price Is Expected To Reach These Levels
Looking at the Ripple price chart, we see that XRP has dropped considerably over the past couple of sessions, although it has gained some ground during the current session. If XRP continues to drop, we could see it drop to $0.72, where the 50-day SMA can act as support. However, if XRP can recover, the price could push above $0.75.