Ripple Technical Analysis: XRP Registers Minor Drop After Pushing To $0.61

Daily Ripple XRP Price Analysis

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Last Updated January 31st 2022
3 Min Read
  • The Ripple price registered a marginal recovery over Friday and Saturday, pushing to $0.61. 
  • The current session has seen XRP register a marginal drop and is currently down by just under 0.50%. 

The Ripple price has been unable to push to $0.62 during the ongoing session, as sellers forced the price down marginally. XRP had registered a marginal increase on Wednesday after a fairly volatile session. However, XRP fell back in the red on Thursday, dropping by 1.57% and settling at $0.60, before making a marginal recovery on Friday, pushing back to $0.61. Saturday saw XRP remain positive, registering an increase of 1.01% before dropping back during the ongoing session. 

Ripple Price Chart Indicates Buyers And Sellers Struggling To Establish Control 

The Ripple price had registered a fairly significant drop at the start of the previous weekend, falling by 11.49% on Friday. XRP continued to drop over the weekend, falling by 6.31% on Saturday and falling to $0.59, before recovering on Sunday and ending the weekend at $0.62. Monday saw XRP back in the red, dropping by 2.64% and settling at $0.61, before recovering on Tuesday, rising by nearly 1%.

Image: XRP/USD daily

Image: XRP/USD daily chart 013122

The Ripple price managed to stay in the green on Wednesday after a fairly volatile session that saw it register an increase of 0.24%. However, Thursday saw XRP fall back, dropping by 1.57% and settling at $0.60 before a marginal recovery on Friday saw XRP move back to $0.61. The weekend started with the positive sentiment persisting on Saturday, with XRP registering an increase of 1.01% before dropping back during the ongoing session.

We can see that the MACD is currently bearish, but if XRP can manage to recover from this level, we could see it flip to bullish.

Image: XRP/USD 4-hour

Image: XRP/USD 4-hour chart 013122

The 4-hour Ripple price chart shows us that XRP had dropped to $0.56 on the 24th, registering a fairly significant drop. XRP recovered from this level, pushing above the 20-bar SMA and rising to $0.61. After registering a marginal drop from this level, XRP surged to $0.63 on the 26th but turned bearish after reaching this level, falling below the 20-bar SMA, dropping to $0.59. XRP pushed back to $0.61 on the 27th but could not push past the 20-bar SMA, dropped back to $0.59, and was able to move above the 20 and 50-bar SMAs only on the 29th when XRP pushed to its current level of $0.61.

We can see that the Parabolic SAR and MACD are both currently bullish, indicating that we could see the price push higher from its current level.

Ripple Price Is Expected To Reach These Levels

Looking at the Ripple price chart, we can see that XRP has registered a marginal drop during the ongoing session, as buyers and sellers look to establish control. If sellers retain control, we could see XRP drop to $0.60 or even below. However, if buyers manage to take control, we could see XRP push above $0.61 and perhaps towards $0.65.