Ripple falls below $0.8: Is the $1 dream over for XRP?

Ripple price analysis for Feb 18, 2022, confirms that the token fell below the $0.8 price zone, and it seems that the $1 dream is over for the XRP token. But, it is not fully true. There are some indicators that are still bullish despite the bearish trajectory followed by the token, as predicted in our XRP price analysis for Feb 18, 2022.

The data from CoinMarketCap shows that the trading volume of the token surged 49.62% in the last 24 hours, followed by a 6.25% drop in the market value of the token. It is also important to note that the Market Dominance of Ripple stands at 2.03%, while the Volume / Market Cap stands at a value of 0.08072.

The daily candle for the token opened at a price of $0.768 and reached a daily high of $0.7902. On the other hand, the daily low for the token stands at $0.7635. Moreover, the price of 1 XRP at the time of writing is $0.7858. 

Ripple price analysis on the daily chart

Ripple price analysis for Feb 18, 2022, confirms that the token has turned bearish. Below, we will use the top 3 indicators to predict future possibilities for XRP.

Source: TradingView

The MACD indicator shows that the MACD line (blue) continues above the signal line (orange), which means that the bulls are still in control. The MACD histogram is still bullish. 

The RSI levels continue to progress in the bullish region of the RSI, which reads 53.30. Moreover, the gradient of the line is also slightly positive, indicating that higher prices are possible. 

The prices have retested the middle zone of the Bollinger and once again tried to break out of the upper end of the Bollinger Bands. 

Conclusion

The Ripple price analysis on the daily chart for Feb 18, 2022, can be concluded on a bullish note for the token that has dropped below the price support of $0.8. However, it is also important to note that the bulls are still in control, and $1 is indeed possible in the near future.