Ripple Technical Analysis: XRP Registers Sharp Drop On Monday, Could Drop To $0.80

Daily Ripple Price Analysis

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Last Updated January 5th 2022
3 Min Read
  • The Ripple price continued to drop during the ongoing session as its bearish start to the week continued. 
  • XRP had started the week in the red, falling by over 3% on Monday. 

The Ripple price is currently down by nearly 1% as sellers look to push the price further down during the ongoing session. XRP had registered a drop of 1.16% on Friday but recovered over the weekend, rising by nearly 3% on Saturday and then 1% on Sunday to end the weekend at $0.85. However, the price fell back on Monday, falling by over 3% and settling at $0.83. The current session sees XRP still in the red, with the price at $0.82. 

Ripple Price Chart Indicates XRP Could Drop To $0.80 

The Ripple price had started the previous weekend on a positive note, rising by 1.60% on Saturday. However, the price fell back in the red on Sunday, dropping by 0.60% and settling at $0.92. Monday saw XRP register a marginal recovery before the price fell by over 8% on Tuesday, slipping below the 20-day SMA and settling at $0.85. The price continued to drop on Wednesday, falling over 4% and dropping to $0.81, before recovering on Thursday and settling at $0.83.

Image: XRP/USD daily

Image: XRP/USD daily chart 010522

The Ripple price fell back in the red on Friday, falling by 1.16% and settling at $0.82. However, the price was back in the green over the weekend, rising by nearly 3% on Saturday and then pushing up by 1% on Sunday to end the weekend at $0.85. Despite the bullish sentiment, the price fell back in the red on Monday, dropping by over 3% and settling at $0.83. The current session sees XRP at $0.82, with sellers in control of the session.

We can see that the MACD has flipped to bearish, indicating that we could see the price drop further.

 Image: XRP/USD 4-hour

Image: XRP/USD 4-hour chart 010522

Looking at the 4-hour Ripple price chart, we see that XRP had dropped to $0.81 on the 30th. The price made a marginal recovery from this level, rising to $0.84. However, the 20-bar SMA was acting as resistance at this level, and the price fell back, dropping to $0.80 on the 31st. XRP pushed back up from this level and moved above the 20-bar SMA, rising to $0.84. With the 20-bar SMA now acting as support, XRP was able to stay at this level, rising to $0.85. However, with the 50-bar SMA coming into play as resistance, XRP fell back, dropping below the 20-bar SMA on the 3rd, moving to its current level of $0.83.

We can see that the Parabolic SAR and MACD are both bearish, indicating we could see the price drop. However, if XRP is able to make a recovery, we could see them flip to bullish.

Ripple Price Is Expected To Reach These Levels

Looking at the Ripple pierce chart, we can see that XRP has dropped marginally during the ongoing session. If the price continues to drop, we could see XRP drop to $0.80. However, if the price can recover, we could expect XRP to rise to $0.85.