Ripple price analysis for Feb 21, 2022, can be introduced on a sluggish note for the token which has met with an important resistance at $0.8. On the other hand, in our XRP analysis for Feb 18, 2022, we saw XRP drop below the $0.8 price level. With the previous week being very bearish for the crypto space, let’s see what this week brings for the crypto market.
The data from CoinMarketCap shows that the trading volume of the token dropped 12.01% in the last 24 hours followed by a 0.87% drop in the market cap. On the other hand, the Volume / Market Cap Ratio currently stands at a value of 0.0802 while the Market Dominance of the token stands at 2.14%.
The daily candle for the XRP token opened at a price of $0.776 and reached a daily high of $0.8020. On the other hand, the bulls were unable to turn this area into support and the token dropped to the daily low of $0.76.
Ripple price analysis for Feb 21 on the daily chart
Ripple price analysis for Feb 21, 2022, will be implemented using 3 major indicators on a daily timeframe.
The MACD indicator on the chart above shows that the MACD line (blue) is touching the signal line (orange) and there is a huge chance that the former might break below the latter, confirming a bearish divergence.
Moreover, the RSI indicator continues in the bullish zone and reads a value of 53.48 while the gradient of the line for today is slightly positive, which means that higher prices are possible.
The price action is testing the middle zone of the Bollinger Bands which means that the prices can explode either way. However, it is possible for XRP to drop into the bearish zone.
The Ripple price analysis for Feb 21, 2022, confirms that the token might turn bearish in the coming if the selling pressure remains high.