Ripple fails to hold above $0.77: Drops 2%

Cryptocurrency Price analysis and Prediction

April 21, 2022

Cryptocurrency Price analysis and Prediction

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Ripple price analysis for April 21, 2022, comes on a bearish note for the token as it has dropped by nearly 2% in the last 24 hours and it seems that we can expect lower prices as well. As noted in our XRP price analysis for April 20, 2022, the token has strong resistance at the $0.77 price region which it has failed to hold for a long time. On the other hand, the token has strong support at the $0.76 price region which holds for now.

The data from CoinMarketCap shows that the trading volume of Ripple has dropped by 2.33%, followed by a drop of nearly 1.98% drop in the market cap. Moreover, the Market Dominance dropped to 1.88%, while the Volume / Market Cap Ratio stands at a value of 0.04871.

The daily candle for the token opened at a price of $0.7517 and reached a daily high of $0.7572. Meanwhile, the daily low for the token stands at a price of $0.7513. At the time of writing, the price of 1 XRP stands at a price of $0.7526.

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Ripple price analysis for April 21 on the daily chart

The Ripple price analysis for April 21 will take into consideration the data from the indicators placed in the daily chart below.

Source: TradingView

The RSI indicator reads below 46 which confirms that the bears have regained their dominance over the XRP token and we can expect Ripple to lose $0.76 if similar conditions prevail.

The MACD indicator shows that the MACD line and the signal line are very close to each other and we had witnessed a bullish divergence of the XRP token but the situation remains bearish.