Ripple Technical Analysis: XRP Posts Marginal Recovery After Dropping Below $1.05

Daily Ripple Price Analysis

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Last Updated November 24th 2021
3 Min Read
  • The Ripple price registered a marginal increase during the session, pushing up to $1.04.
  • XRP was quite bearish over the weekend, as the price dropped by over 3% on Sunday. 

The Ripple price reversed the bearish trend during the current session, as it registered a marginal increase. XRP was quite bullish over the weekend, as the price reported an increase of almost 5% on Friday. After a marginal increase on Saturday, the price fell into the red on Sunday, falling to $1.05. The current week started with XRP continuing to remain bearish, as it registered a fall of over 2% on Monday. 

Ripple Price Chart Indicates XRP Could Push To $1.05 

The Ripple price was quite static over the previous weekend, as it registered a marginal increase on Saturday and then a marginal drop on Sunday. However, the week began with the price showing significant movement, as XRP dropped by 1.27% on Monday. Tuesday saw a more significant drop, as XRP slipped below the 20-day and 50-day SMA after registering a drop of over 7%. After a marginal recovery on Wednesday, XRP fell back on Thursday, dropping by almost 5% and settling at $1.04.

Image: XRP/USD daily chart 112421

Image: XRP/USD daily

After dropping to $1.04 on Thursday, the Ripple price registered a strong recovery on Friday, as it pushed up by almost 5%, rising to $1.09. Saturday saw the price continue to push up after registering an increase of 0.695. However, XRP fell back on Sunday, as it fell by 3.65%, dropping to $1.05. The current week started with the bearish sentiment prevailing, as the price dropped to $1.03. The current session sees buyers and sellers vying for control, with the price at $1.03.

We can see that the MACD is currently bearish, indicating that we could see the price drop. However, if the price recovers, we could see it flip to bullish.

Image: XRP/USD 4-hour chart 112421

Image: XRP/USD 4-hour

Looking at the 4-hour Ripple price chart, we can see that XRP had dropped to $1.06 on the 17th after it had slipped below the 200-bar SMA. The price made a strong recovery after dropping to this level and pushed to $1.12. However, the 20-bar SMA was acting as resistance at this level, and XRP fell to $1.02. The price rose again from this level, pushing above the 20-bar SMA and settling at $1.09. With the 20-bar SMA acting as support, XRP was able to stay above this level until the 21st, when it dropped to $1.03. Currently, XRP remains at $1.03, with buyers and sellers struggling to control the session.

We can see that the Parabolic SAR is currently bearish, indicating that the price could drop during the current session.

Ripple Price Is Expected To Reach These Levels

Looking at the Ripple price chart, we see that XRP has made a bearish start to the week, with the price dropping on Monday. If sellers take control of the current session, we could see the price drop towards $1.00. However, if buyers take control, then the price could push to $1.05.