- The Ripple price saw a significant drop on Tuesday, falling by over 7%.
- XRP has now shown much movement since, with the price static at $1.09.
The Ripple price remained in the red during the current session, with buyers and sellers struggling for control. XRP had started the week on a fairly bearish note, as the price registered a drop of 1.27% on Monday. Tuesday saw the price drop significantly, slipping below the 20-day and 50-day SMAs to settle at $1.08. XRP pushed up marginally on Wednesday, registering an increase of 0.67% before falling back during the current session.
Ripple Price Chart Indicates Buyers And Sellers Vying For Control
The Ripple price started the previous week on a very bullish note, as the price pushed up by over 5%. However, Tuesday saw the price drop, as it fell to $1.25 after falling by almost 2%. XRP continued to drop on Wednesday, falling over 5%, and dropping to $1.19, before recovering on Thursday and settling at $1.21. Friday saw the price back in the red as it fell by 2.14% and $1.18 before posting a marginal recovery on Saturday.
Image: XRP/USD daily
The Ripple price fell back in the red on Sunday, as it registered a marginal drop of 0.17%. The price continued to drop on Monday, as it fell by 1.27% to settle at $1.17, just above the 20-day SMA. XRP registered a sharp fall on Tuesday, as it slipped below the 20-day and 50-day SMA after falling by over 7% and settling at $1.08. On Wednesday, the price pushed up as XRP posted a marginal increase, with the current session seeing XRP at $1.09, with buyers and sellers struggling for control.
We can see that the MACD is currently bearish. However, if XRP can manage to recover, then we could see it flip to bullish.
Image: XRP/USD 4-hour
Looking at the 4-hour Ripple price chart, we see that XRP had dropped below the 20 and 50-bar SMAs on the 11th, with the price falling to $1.19. Although the price recovered from this level and rose to $1.24, it could not push past the 20-bar SMA and dropped to $1.17, slipping below the 50-bar SMA. With the 50-bar SMA now acting as resistance, the price could not move past this level until the 15th, when the price pushed above the 20-bar SMA and settled at $1.20. However, with the 50-bar SMA still acting as resistance, XRP fell to $1.06, slipping below the 20 and 200-bar SMA. The price pushed up from this level and rose to its current price of $1.09.
We can see that the Parabolic SAR has flipped to bullish, indicating that we could see the price recover.
Ripple Price Is Expected To Reach These Levels
Looking at the Ripple price chart, we see that XRP has made a marginal recovery during the current session. If the price continues to push up, we could see XRP rise to $1.12.