Ripple drops 5%, investors needs to buckle up for a bearish ride

Ripple price analysis for Feb 14, 2022, can be confirmed on a bearish note as the token fell by more than 5% in the last 24 hours. The token entered the month of Feb on a very bullish note and outperformed several altcoins, climbing up to the 6th position in the market, as reported by TheCoinRise in the Ripple price analysis for Feb 7, 2022. However, for today, the token is definitely bearish. 

The data from CoinMarketCap shows that the trading volume fell 25.65% in the last 24 hours, followed by a 5.02% drop in the market cap. On the other hand, the Market Dominance of the token rests at 2.03%, followed by a Volume / Market Cap Ratio of 0.06771. 

The daily candle opened at a price of $0.8057 and reached a daily high of $0.81. Moreover, the daily low for the token stands at a price of $0.78. At the time of writing, the price of 1 XRP stands at $0.7858.

Ripple price analysis on the daily chart

Ripple price analysis for Feb 14, 2022, on the chart below, confirms that the RSI line is quite bearish with a negative gradient. This means that lower prices might be possible.

Source: TradingView

The Ripple price analysis on the chart below confirms a bullish scenario for the XRP token as the MACD line (blue) continues to progress above the signal line (orange).

Source: TradingView

The price action broke out of the upper end of the Bollinger Bands, which confirms that the bulls are in control. Furthermore, the price action now aims to retest the middle zone of the bands.

Source: TradingView

Conclusion

Ripple price analysis on the daily chart for Feb 14, 2022, confirms that the XRP token has fallen below $0.8 while the nearest support of the token rests at $0.78. Moreover, the token was unable to breach $1, as seen in our XRP price analysis for Feb 8, 2022. Investors are advised to buy the dip and wait for higher prices.