Ripple Technical Analysis: XRP Drops Below $0.80, Could Drop To $0.75

Daily Ripple Price Analysis

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Last Updated December 7th 2021
3 Min Read
  • The Ripple price fell below $0.80 during the ongoing session as sellers continued to dominate the market. 
  • XRP has been extremely bearish over the past few sessions and had registered a drop of over 8% on Saturday. 

The Ripple price continued to drop, as the selloff showed no signs of letting up. XRP had slipped below the 200-day SMA on Friday when the price dropped to $0.92. The bearish sentiment intensified over the weekend, with the price dropping by over 8% on Saturday and then by almost 5% on Sunday to end the weekend at $0.80. The current session saw sellers push XRP below the $0.80 level, as the price slumped to $0.77. 

Ripple Price Chart Indicates XRP Could Drop To $0.75

The Ripple price started the previous weekend on a fairly positive note, as XRP pushed up by 0.40% on Saturday and 2.53% on Sunday to end the weekend at $0.96. XRP continued to push up on Monday, moving above the 200-day SMA and settling at $0.99 before registering a marginal increase of 0.88% on Tuesday. However, the price fell back on Wednesday, as XRP registered a drop of 0.91%, as sellers took control of the market.

Image: XRP/USD daily chart 120721

Image: XRP/USD daily

After registering a marginal drop on Wednesday, the Ripple price fell further on Thursday, dropping by 1.79% and settling at $0.97. XRP slipped below the 200-day SMA on Friday, dropping by over 5% and settling at $0.92. The selloff continued over the weekend, with XRP dropping by over 8% and settling at $0.77 on Saturday before dropping to $0.80 on Sunday. The current session saw XRP slip below $0.80, as sellers pushed the price down to $0.77. We can see that the Parabolic SAR is currently bearish, indicating that we could see the price drop further.

Image: XRP/USD 4-hour chart 120721

Image: XRP/USD 4-hour

Looking at the 4-hour Ripple price chart, we can see that XRP had pushed above the 20-bar SMA on the 29th when the price rose to $0.96. XRP continued to push up from this level, moving above the 50-bar SMA on the 30th and settling at $1.01. With the 50-bar SMA now acting as resistance, XRP maintained this level for the next few sessions before dropping below the two SMAs on the 2nd. XRP could not push above this level, thanks to the 50-bar SMA acting as resistance, and dropped significantly on the 4th when the price fell to $0.75. The price picked up from this level, as it rose to $0.84, before falling back to its current level of $0.77.

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 has fallen drastically over the weekend and during the ongoing session. If the current sentiment persists, we could see XRP drop to $0.75.