Ripple Price Prediction: XRP Registers Significant Drop, Falls To $0.60

Daily Ripple XRP Technical Anlaysis

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Last Updated February 4th 2022
3 Min Read
  • The Ripple price dropped by over 4% on Wednesday, dropping to $0.60 
  • The current session sees buyers and sellers struggling to establish control, with the price slipping below $0.60. 

The Ripple price dropped below $0.60 during the ongoing session, as sellers pushed the price down significantly on Wednesday. XRP had started the week on a fairly bearish note, dropping by 2.49% and falling to $0.60 on Sunday. The price managed to recover on Monday, rising by 2.61% and then rising by 1.70% on Tuesday and moving to $0.62. However, Wednesday saw the price drop back significantly, falling over 4% and dropping to $0.60, before slipping below $0.60 during the ongoing session. 

Ripple Price Chart Indicates XRP Struggling To Stay Above $0.60 

The Ripple price was quite bearish at the start of the previous week, dropping by nearly 3% and falling to $0.61. The price recovered on Tuesday, pushing up by over 0.87% and settling at $0.61, before registering a marginal increase on Wednesday. XRP fell back on Thursday, dropping by nearly 2% and dropping to $0.60, before registering a marginal recovery on Friday and moving to $0.61. XRP continued to push higher on Saturday, starting the weekend on a positive note and rising by just over 1%.

Image: XRP/USD daily

Image: XRP/USD daily chart 020422

After starting the weekend on a positive note, the Ripple price fell back, dropping by 2.49% on Sunday and ending the weekend at $0.60. However, XRP was back in the green on Monday, rising by nearly 3% and moving to $0.61. XRP continued to push higher on Tuesday, moving to $0.62, before dropping back on Wednesday, falling by over 4% and settling at $0.60. The current session sees XRP marginally down, as sellers look to push the price below $0.60.

We can see that the MACD is bullish, indicating that we could see XRP recover.

Image: XRP/USD 4-hour

Image: XRP/USD 4-hour chart 020422

The 4-hour Ripple price chart shows us that XRP had pushed up to $0.63 on the 26th. The price fell from this level, dropping below the 20-bar SMA and falling to $0.59, before recovering and rising to $0.61. However, XRP could not move past the 20-bar SMA, and the price fell back, dropping to $0.59 on the 28th. XRP made a fairly strong recovery after dropping to this level and moved above the 20 and 50-bar SMAs, rising to $0.62, before dropping back below the SMAs and falling to $0.58. XRP made a strong recovery from this point, as it surged past the 20 and 50-bar SMAs and moved to $0.62 on the 2nd. After reaching this level, the price turned bearish again and slipped back below the 20 and 50-bar SMAs, dropping to its current level of $0.60.

We can see that the MACD is currently bearish, indicating that we could see the price drop further.

Ripple Price Is Expected To Reach These Levels

Looking at the Ripple price chart, we see that XRP had dropped considerably on Wednesday, falling to $0.60. The current session sees buyers and sellers struggling to establish control with the price marginally up at the moment. If buyers manage to retain the session, we could see XRP push above $0.60, but if sellers retain the session, we could see XRP drop below $0.60.