Ripple volume jumps but prices remain sluggish: Drops to 9th position

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Ripple price analysis for April 5, 2022, comes on a slightly sluggish note for the token as the trading volume has surged but the token’s prices are still not moving up. Many people took to Twitter to call XRP a stablecoin as it remains above the $0.8 price region and fails to break into the $1 price region. Furthermore, the XRP price analysis for April 4th, 2022, noted that XRP dropped to the 8th position in the market, and today, we can confirm that the token has dropped to the 9th position in the market. 

The data from CoinMarketCap shows that the trading volume of Ripple has jumped by 35.25% followed by a drop of 0.71% in the market cap. Moreover, the Market Dominance dropped to 1.84% while the Volume / Market Cap Ratio stands at a value of 0.04572. 

The daily candle for the token opened at a price of $0.8261 and reached a daily high of $0.8308. Meanwhile, the daily low for the token stands at a price of $0.8233. At the time of writing, the price of 1 XRP stands at a price of $0.8279.

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Ripple price analysis for April 5 on the daily chart

The Ripple price analysis for April 5 will consider the data from the daily chart below in order to predict the future price trajectory for the token.

Source: TradingView

The MACD indicator shows that the MACD line and the signal line are very close to each other as the signal line has broken above the former, causing a bearish divergence for the token. 

The RSI indicator reads a value above 52 which means that the bears are taking over gradually and the gradient of the line suggests that Ripple might continue to see a drop in prices. 

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The price action is now dropping to the lower end of the Bollinger Bands which means that investors can expect Ripple to remain bearish in the coming days.

Conclusion

Ripple price analysis for April 5, 2022, confirms that the token remains sluggish despite a surge in volume and traders can expect it to drop out of the top 10 soon.

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