- The Ripple price registered a drop during the ongoing session, as XRP got off to a bearish start to the week.
- XRP has been quite bearish in recent sessions and had registered a sharp drop of nearly 4% on Thursday.
The Ripple price is currently down by 1.50% during the ongoing session, as buyers look to drive XRP below $0.75. XRP had registered a sharp drop on Thursday, dropping to $0.76, before registering a marginal recovery on Friday. Saturday saw XRP register a marginal increase before registering a marginal drop on Sunday and ending the weekend at $0.077. The current session sees XRP down by over 1%, as sellers look to push the price lower.
Ripple Price Chart Indicates XRP Could Drop To $0.75.
The Ripple price was quite bearish at the start of the previous weekend, dropping by 2.33% on Saturday. The price recovered on Sunday, rising by 0.98% and settling at $0.75, before dropping back in the red on Monday, settling at $0.73. XRP made a strong recovery on Tuesday, rising over 4.11% and settling at $0.77, and then rising by 3.69% on Wednesday and settling at $0.79.
Image: XRP/USD daily
After rising to $0.79 on Wednesday, the Ripple price fell back on Thursday, dropping by nearly 4% and settling at $0.76. XRP made a marginal recovery on Friday, rising by 0.66% and then registering an increase of 0.80% on Saturday, moving to $0.77. However, the price fell back in the red on Sunday, registering a marginal drop, before registering a considerable drop during the ongoing session.
We can see that the MACD is bullish, but if the price continues to drop, we could see it flip to bearish.
Image: XRP/USD 4-hour
The 4-hour Ripple price chart shows that XRP had pushed up to $0.77 on the 12th, where the 50-bar SMA acted as resistance. As a result, the price fell back, dropping to $0.76, before surging past the 50-bar SMA and moving to $0.79. After reaching this level, the price turned bearish and fell back, dropping to $0.76, where the 20-bar SMA was acting as support. The price pushed back to $0.78 before registering a sharp drop, falling below the 20 and 50-bar SMAs and settling at $0.75. The price pushed back above the 50-bar SMA from this level, rising to $0.77 on the 14th, then pushing past the 20-bar SMA on the 15th, rising to $0.78. XRP fell back, dropping to $0.77, and with the 20-bar SMA now acting as support, it could stay at this level until the 17th, when it slipped below the 20-bar SMA and moved to its current level of $0.76.
We can see that the 50-bar SMA is acting as support, but the MACD and Parabolic SAR are both currently bearish. However, if XRP is able to recover thanks to the support, we could see them flip to bullish.
Ripple Price Is Expected To Reach These Levels
Looking at the Ripple price chart, we see that XRP has dropped during the ongoing session. However, we have also seen the price register a marginal recovery. If the price can recover from this level, we could see it push back towards $0.78. However, if the price continues to drop, we could see it fall towards $0.75.