Ripple on the verge of losing $0.8: Will bears continue to demolish gains?

Cryptocurrency Price analysis and Prediction

April 01, 2022

Cryptocurrency Price analysis and Prediction

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Ripple price analysis for April 1, 2022, confirms that the token has turned bearish as the chances of losing the $0.8 price zone seem quite high for the XRP token. Furthermore, we can also confirm that the nearest resistance for the token stood at $0.9 which might continue to dominate the price trajectory. The XRP price analysis for March 31, 2022, confirmed that the token was able to retain the 6th position in the market but today’s analysis concludes that the token might lose this position to SOL if bulls don’t take over.

The data from CoinMarketCap shows that the trading volume of Ripple has jumped by 53.01% followed by a drop of 5.79% in the market cap. Moreover, the Market Dominance dropped to 1.92% while the Volume / Market Cap Ratio stands at a value of 0.07199.

The daily candle for the token opened at a price of $0.8149 and reached a daily high of $0.8317. Meanwhile, the daily low for the token stands at a price of $0.8079. At the time of writing, the price of 1 XRP stands at a price of $0.8157.

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Ripple price analysis for April 1 on the daily chart

The Ripple price analysis for April 1 will be considerating the data from the daily chart to track the possibilities for the future price trajectory of the token:

Source: TradingView

The RSI indicator shows a value above 51 which means that the indicators for the token are turning bearish on the daily chart while the gradient of the line suggests that lower prices are possible.

The MACD indicator shows that the MACD line and the signal line are very close to each other and the chances of a bearish divergence seem quite high for Ripple in the coming days.