- The Ripple price continued its bearish start to the week, down by over 5% in the current session.
- XRP has been quite bearish since it hit $1.28 during the previous week.
The Ripple price continued to drop as sellers maintained their grip during the current session. XRP has taken a bearish turn since the previous week and registered a drop of over 5% on Wednesday. Although it did recover on Thursday, by Friday, XRP had dropped to $1.18. The weekend did not see much movement, but the price fell on Monday, falling to $1.17. The current session sees the price firmly in the red, as sellers push the price towards $1.05.
Ripple Price Chart Indicates XRP Could Drop Below $1.05
The Ripple price started the previous weekend on a bearish note, as the price registered a marginal drop on Saturday. XRP recovered on Sunday, as it pushed up by almost 6% on Sunday, ending the weekend on a positive note. The bullish sentiment persisted on Monday, with the price rising by 5.04% and moving up to $1.28. However, after reaching this level, the price took a bearish turn, dropping by 1.95% on Tuesday. Wednesday saw a significant drop, with XRP falling by 5.17%, slipping to $1.19. XRP did recover on Thursday, as it pushed up by 1.95% to settle at $1.21.
Image: XRP/USD daily
After Thursday’s recovery, the Ripple price fell back on Friday, as sellers took control of the session, dropping the price down to $1.18. The weekend did not see much movement, as the price registered a marginal drop on Saturday before dropping back on Sunday to end the weekend at $1.18. The current week started with the price still in the red, as XRP dropped by 1.27% on Monday. The current session sees the price down by over 5%, having slipped below the 20 and 50-bar SMAs to its current level of $1.10.
We can see that the Parabolic SAR and MACD have flipped to bearish, indicating that the price could drop further.
Image: XRP/USD 4-hour
The 4-hour Ripple price chart shows us that XRP had surged to $1.32 on the 10th. However, the price fell drastically from this level, slipping below the 20 and 50-bar SMAs and settling at $1.19. The price pushed back up to $1.24, but with the 20-bar SMA acting as resistance, it slipped back below the 50-bar SMA to $1.17. XRP rose to $1.18 but could not move past this level until the 15th, when the price pushed above the 20-bar SMA to $1.20. However, the 50-bar SMA came into play as resistance, and the price dropped, slipping below the 20 and 200-bar SMAs to $1.09. Currently, the price is at $1.09, and with the MACD having flipped to bearish, we could see the price drop further.
Ripple Price Is Expected To Reach These Levels
Looking at the Ripple price chart, we can see that XRP has dropped sharply during the current session, slipping below the 20 and 50-bar SMAs. If the current sentiment persists, then we could see the price drop to $1.05.