Ripple Technical Analysis: XRP Looks To Push To $0.80 After Bearish Monday

Daily Ripple Price Analysis

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Last Updated December 15th 2021
3 Min Read
  • The Ripple price fell drastically on Monday, dropping by almost 7%. 
  • The current session has seen a marginal recovery, as buyers look to push the price back above $0.80 

The Ripple price is looking to push back above $0.80 as buyers return to the market, looking to prop up the price. XRP had gotten off to a fairly positive start to the weekend, as the price pushed up by almost 5% on Saturday. On Sunday, the price managed to stay in the green, registering a marginal increase, but fell back on Monday, dropping by almost 7% and settling at $0.78. The current session has seen a marginal recovery, with the price back to $0.79. 

Ripple Price Chart Indicates XRP Could Move To $0.80 

The Ripple price started the previous week on a fairly positive note, registering an increase of 2.68% on Monday and moving to $0.82. However, the price fell back on Tuesday, dropping to $0.81 after falling by 1.35%. The price recovered on Wednesday, rising by almost 6% and settling at $0.86, before falling back in the red on Thursday, dropping by 0.41%. XRP continued to drop on Friday, as it fell by almost 7% and settled at $0.79.

Image: XRP/USD daily chart 121521

Image: XRP/USD daily

After dropping to $0.79 on Friday, the Ripple price posted a strong recovery over the weekend. XRP rose by almost 5% on Saturday, moving back up to $0.83. Sunday saw XRP remain in the green, as it posted a marginal increase of 0.26%. However, the price fell back on Monday as it dropped by almost 7%, slipping below $0.80 and settling at $0.78. The current session has seen a recovery, as the price pushed up to $0.79.

We can see that the Parabolic SAR is currently bullish, indicating that we could see the price push higher.

Image: XRP/USD 4-hour chart 121521

Image: XRP/USD 4-hour

Looking at the 4-hour Ripple price chart, we can see that XRP had pushed up to $0.86 on the 8th. The price continued to push up from this level, as it moved above the 50-bar SMA and settled at $0.90. However, after reaching this level, the price turned bearish and slipped back below the 20 and 50-bar SMAs, falling to $0.79 on the 11th. XRP pushed back up from this level, as it rose to $0.83 but could not move past the 50-bar SMA. The price stayed at this level until the 12th when it pushed above the 20 and 50-bar SMAs to $0.085. XRP dropped after reaching this level, slipping below the 20 and 50-bar SMAs to $0.77 before rising to its current level of $0.79.

We can see that the MACD and the Parabolic SAR are bearish, indicating that the price could drop further. However, if the price recovers, 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 recovered during the ongoing session, with the price back up to $0.79. If the current sentiment persists, we could see XRP push to $0.80.