Ripple maintains sluggish pace as investors await higher prices

Ripple price analysis for April 14, 2022, comes on a bearish note for the token with chances of a price surge in the near future being quite low because of low volumes. Furthermore, the XRP token has a strong resistance for now above $0.75 which it hasn’t been able to breach for quite some time. It seems that the fight between the bulls and the bears is evenly matched with no clear victor. The XRP token saw a price surge of nearly 2% in the last 24 hours and as per our XRP price analysis for April 13, 2022, the nearest support lies at $0.70.

The data from CoinMarketCap shows that the trading volume of Ripple has dropped by 9.49%, followed by a surge of nearly 3.02% in the market cap. Moreover, the Market Dominance rose to 1.85%, while the Volume / Market Cap Ratio stands at a value of 0.04858. 

The daily candle for the token opened at a price of $0.7232 and reached a daily high of $0.7413. Meanwhile, the daily low for the token stands at a price of $0.7222. At the time of writing, the price of 1 XRP stands at a price of $0.7404.

Ripple price analysis for April 14 on the daily chart

The Ripple price analysis for April 14 will consider the data from the daily chart below which has 3 of the major indicators placed on the daily chart.

Source: TradingView

The RSI indicator reads a value below 43 which means that the bears are currently dominating the bulls. 

The MACD indicator shows that the signal line is above the MACD line which means that the demand for the Ripple token has declined in the past few days. 

The price action has dropped to the lower end of the Bollinger Bands which confirms that lower prices might follow.

Conclusion

Ripple price analysis for April 14, 2022, ends on a bearish for the token with considerable chances of losing $0.7 as a support region.