Ripple Technical Analysis: XRP Makes Strong Weekend Recovery, Pushes To $0.83

Daily Ripple Price Analysis

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Last Updated December 20th 2021
4 Min Read
  • The Ripple price has had a reasonably bullish weekend, making a strong recovery. 
  • XRP was quite bearish during the week and had dropped to $0.79 on Friday. 

The Ripple price has made a good recovery over the weekend, reversing the bearish trend that was prevailing in the days prior. XRP had dropped by 2.53% on Thursday, as it fell to $0.80. On Friday, a further drop of 1.04% took the price to $0.79. However, XRP recovered on Saturday, as the price pushed up by almost 4% and settled at $0.82. The current session sees XRP pushing $0.84, with buyers in control. 

Ripple Price Chart Indicates XRP Could Push to $0.85

The Ripple price started the previous weekend on a very bearish note, as it dropped by 6.99% and settled at $0.80. However, the weekend saw the price recover strongly, rising by almost 5% and Saturday and settling at $0.83. XRP remained in the green on Sunday as it registered a marginal increase but fell back on Monday when the price dropped by almost 7% and settled at $0.78. However, buyers returned to the market on Tuesday, as the price rose by 3.68% and moved up to $0.81.

Image: XRP/USD daily

XRP/USD daily chart 122021

After rising to $0.81 on Tuesday, the Ripple price continued to push higher on Wednesday, rising by almost 2% and settling at $0.82. However, the price fell back on Thursday by 2.53% and settled at $0.80. The price continued to drop on Friday, as it slipped below $0.80 and settled at $0.79. However, the weekend saw a strong recovery, with XRP rising by 3.72% on Saturday and settling at $0.82. The current session sees buyers firmly in control of the session, with buyers looking to push the price beyond $0.83.

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

Image: XRP/USD 4-hour

XRP/USD daily chart 122021

Looking at the 4-hour Ripple Price chart, we can see that XRP had dropped to $0.77 on the 13th. The price pushed up from this level, moving to $0.81 but could not push past the 20-bar SMA and dropped to $0.77 on the 15th. XRP made a strong recovery from this level, as it pushed above the 20-bar SMA and moved to $0.82 on the 16th. However, the 50-bar SMA was acting as resistance at this level and fell back to $0.80, and then dropped below the 20-bar SMA, falling to $0.79 on the 18th. However, XRP made a strong recovery from this level, rising to $0.82, pushing above the 20 and 50-bar SMAs, and moving to its current level of $0.83.

We can see that the Parabolic SAR and MACD are both currently bullish, indicating that we could see the price push higher during the ongoing session.

718.3M XRP Taken In By Ripple Labs 

Whale Alert data recently indicated that over twenty-four hours, a jaw-dropping amount of 718.3 million XRP was kicked over by several crypto asset companies – Ripple, Binance, and two more digital exchanges. Over half of that amount was sent by Ripple Labs in two massive lumps. The total worth of the transferred XRP amounted to $585,946,261. 

Data shared by Whale Alert showed that Ripple behemoth conducted two mammoth-sized transactions of 460,669,182 and 120,000,000 XRP. That totaled $364,871,463 and $95,718,622 in fiat. The transfers were made from the same Ripple’s wallet rLzoWkN8Rc1MV5rs8rAfo5uTREJ1A3Z9ak, which had zero coins left after that. The funds went to different addresses belonging to the company. 

Another three impressive XRP transactions (not as large as the ones made by Ripple, though) were spotted by Whale Alert before those performed by Ripple. Binance shifted 80 million XRP between its wallets. An anonymous wallet moved 20 million XRP to Bitso – the first crypto unicorn in Latin America and the leading exchange in Mexico and the region, also an ODL corridor of Ripple. 

According to the data from Bitstamp website, this crypto was sent from the US-based Bittrex exchange. Besides, Bitso shifted 17,700,000 XRP internally. Another transaction from Bittrex delivered 20 million XRP to another Ripple ODL corridor – Bitstamp, located in Luxembourg.

Ripple Price Is Expected To Reach These Levels

Looking at the Ripple price chart, we see that XRP has made a strong recovery over the weekend. If the current sentiment persists, we could see XRP push to $0.85.