Ripple Technical Analysis: XRP Faces Strong Resistance At $0.95

Daily Ripple Price Analysis

By
Last Updated December 28th 2021
3 Min Read
  • The Ripple price registered a marginal drop on Sunday, falling by 0.62%. 
  • The current session sees buyers and sellers struggling for control, with XRP at $0.92. 

The Ripple price has been unable to push to $1 and is currently at $0.92, with buyers and sellers looking to control the session. XRP had registered a significant increase on Thursday, as the price rose by over 4% to $0.99. However, with the 50-day SMA acting as resistance at this level, the price registered a sharp drop of over 8% on Friday, slipping below the 200-day SMA. XRP recovered on Saturday, rising by 1.60%, but fell back in the red on Sunday, dropping to $0.92. 

Ripple Price Chart Indicates Buyers And Sellers Vying For Control 

The Ripple price started the previous weekend on a fairly bearish note, registering a marginal drop on Friday. XRP made a strong recovery on Saturday, rising by nearly 4% and then rising by 0.99% on Sunday to end the weekend at $0.83. Monday saw XRP continue to push up, as it moved above the 20-day SMA and settled at $0.87. Tuesday saw a significant jump, with XRP rising by nearly 8% and settling at $0.94, before pushing above the 200-day SMA on Wednesday and settling at $0.95.

Image: XRP/USD daily

Image: XRP/USD daily chart 122821

After rising to $0.95 on Wednesday, the Ripple price continued to push up and rose to $0.99 on Thursday. However, at this level, the 50-day SMA acted as resistance, and the price fell back significantly on Friday, dropping by over 8%, slipping below the 200-day SMA and settling at $0.91. The weekend saw XRP recover on Saturday, rising by 1.60%, before falling back into the red on Sunday and ending the weekend on a bearish note. The current session sees XRP still at $0.91, with buyers and sellers vying for control.

We can see that the Parabolic SAR is currently bullish, but if the price drops, we could see it flip to bearish.

Image: XRP/USD 4-hour

Image: XRP/USD 4-hour chart 122821

The 4-hour Ripple price chart shows us that XRP had surged to $0.90 on the 20th. The price fell back from this level, dropping to $0.83. With the 20-bar SMA acting as support at this level, the price pushed up significantly, moving above the 200-bar SMA and settling at $0.97. The price stayed at this level for the subsequent few sessions before rising to $1.01 on the 23rd. XRP could not stay at this level and fell back significantly, dropping back below the 20-bar SMA and settling at $0.91 on the 25th. The price rose to $0.91 before falling back to $0.90 on the 26th, where the 50-bar SMA acted as support. The price rose to $0.92 and then dropped to its current level of $0.91.

We can see that the Parabolic SAR and MACD are both bearish, indicating that the price could drop further.

Ripple Price Is Expected To Reach These Levels

The Ripple price chart shows us that XRP has fallen back during the current session. If sellers retain control of the session, then XRP could drop to $0.90.