Ripple fails to consolidate above $0.8: Indicators gradually turn bearish

Ripple price analysis for March 14, 2022, confirms that the token controversial token remains bearish and there are chances that the XRP token might fail to hold the $0.75 support region. Moreover, it is also important to note that the token has reclaimed the 6th position in the market which it lost in our XRP price analysis for March 11, 2022. The chances of XRP once again reclaiming $0.8 seem low. 

The data from CoinMarketCap shows that the trading volume of Ripple has dropped 21.36% followed by a drop of 4.14% in the market cap. Moreover, the Market Dominance remains at 2.15% while the Volume / Market Cap Ratio stands at a value of 0.06198. 

The daily candle for the token opened at a price of $0.7602 and reached a daily high of $0.7642. Meanwhile, the daily low for the token stands at a price of $0.7450. At the time of writing, the price of 1 XRP stands at a price of $0.7613.

Ripple price analysis for March 14 on the daily chart

Ripple price analysis for March 14, 2022, will aim to track the prices of XRP tokens in the near future using 3 major indicators in our arsenal.

Source: TradingView

The MACD indicator on the daily chart confirms that the MACD line and the signal line are very close to each other but it seems that the former is above the latter. The price action remains uncertain for XRP.

The RSI indicator reads a value of 51.05 which means that the bulls are slightly in charge and chances are, we might see Ripple break below $0.75. 

The price action remains in the upper end of the Bollinger Bands and it seems that Ripple bulls might be losing some of their grip on the price action. The gradient of the line has turned neutral meaning that sluggish price action will follow. 

Conclusion

Ripple price analysis for March 14 concludes on a bearish note and chances are that XRP might lose $0.75 support.