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XRP Price Prediction For February 21
Ripple’s XRP is currently trading at $2.64, experiencing a decline of more than two percent. This downturn may not come as a surprise to many given the broader market sentiment remains mixed, with Bitcoin struggling to break above the crucial $98k mark and Ethereum stuck below the $3000 level.
In light of this information, we must analyze the current situation and predict the future performance of XRP. Currently, the cryptocurrency is facing significant resistance between the $2.65 and $2.80 levels, which suggests that the price may continue to struggle in the short term within these ranges.
Should XRP break above the $2.80 resistance level, it could potentially lead to a cup and handle pattern forming on the daily timeframe. If this scenario plays out, it could signal a higher low and indicate a shift towards more bullish market sentiment. A breakout at this point could result in significant short-term momentum, either over the next few days or weeks.
Additionally, we have observed a recent bullish divergence on the 2-hour chart, which is typically associated with a short-term relief rally or sideways price action. Although the RSI is approaching oversold territory, it has not yet reached that level and the bullish divergence remains intact for now.
In conclusion, based on our analysis of current market trends and technical indicators, we are projecting a $2.60-$2.70 range for XRP over the next few days or weeks, with potential short-term momentum if the price breaks above $2.80.
Source: coinpedia.org
