Ripple Technical Analysis: XRP Looks To Push To $0.85

Daily Ripple Price Anlaysis

By
Last Updated December 31st 2021
3 Min Read
  • The Ripple price has registered a recovery during the ongoing session, as the price rose to $0.84. 
  • XRP has been quite bearish during the week, dropping by over 8% on Tuesday. 

The Ripple price is currently up by nearly 3% during the current session, as XRP pushed up to $0.84, with buyers in control of the session. XRP had ended the weekend on a bearish note but started the week registering a marginal increase on Monday. However, the price fell back on Tuesday, dropping by over 8%, slipping below the 20-day SMA and settling at $0.85. XRP continued to drop on Wednesday, falling to $0.81, before pushing up during the current session. 

Ripple Price Chart Indicates XRP Could Push To $0.85 

The Ripple price charted the previous week on an extremely bullish note, rising by over 5% on Monday, going above the 20-day SMA and settling at $0.87. On Tuesday, the price continued to push up, rising by nearly 8%, settling at $0.94. Wednesday saw XRP push above the 200-day SMA, rising to $0.95 before rising by over 4% on Thursday and settling at $0.99. With the 50-day SMA acting as resistance at this level, XRP registered a significant drop on Friday, falling by over 8%, going back below the 200-day SMA, and settling at $0.91.

Image: XRP/USD daily

Image: XRP/USD daily chart 123121

The Ripple price recovered over the weekend, registering an increase of 1.60% on Saturday. However, XRP was back in the red on Sunday and ended the weekend at $0.92. XRP registered a marginal increase on Monday but fell back significantly on Tuesday, dropping by over 8%, slipping below the 20-day SMA and settling at $0.85. Wednesday saw XRP continue to drop, falling to $0.81, before pushing back up during the current session.

We can see that the Parabolic SAR is currently bearish, indicating that we could see the price drop further.

Image: XRP/USD 4-hour

Image: XRP/USD 4-hour chart 123121

The 4-hour Ripple price chart shows that XRP had dropped to $0.91. The price pushed up marginally from this level, rising to $0.92 and then dropping to $0.90 on the 26th. The 50-bar SMA came into play as support at this level, and XRP pushed up to $0.93, rising above the 20-bar SMA. However, after reaching this level, XRP turned bearish and dropped back below the 20 and 50-bar SMAs, falling to $0.89 on the 28th. XRP continued to drop from this level, falling below the 200-bar SMA and settling at $0.81 on the 30th before pushing up to its current level of $0.83.

We can see that the MACD and Parabolic SAR are both bearish. However, if the price can recover, we could see them flip to bullish.

Ripple Price Is Expected To Reach These Levels

Looking at the Ripple price chart, we can see that XRP has pushed up during the current session. If buyers can retain control, we could see XRP push to $0.85, but if sellers regain control, they could drive the price down to $0.80.