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XRP Price Prediction For February 21
Ripple’s XRP is currently trading at $2.64, down more than two percent in the short term. The cryptocurrency is expected to continue struggling around the $2.65 and $2.80 levels, suggesting a potential price correction.
The broader market sentiment remains mixed, with Bitcoin facing significant resistance above the crucial $98k mark, while Ethereum is stuck below the $3000 level. This uncertainty may have led to XRP’s recent downturn, as it has erased the majority of its gains in the past seven days.
In the short term, support levels to watch include $2.50, with a possible drop to $2.25-$2.30 if the bearish trend continues.
On the flip side, a breakout above the $2.80 resistance level could lead to a potential bullish momentum over the next few weeks or months.
An interesting observation is the formation of a possible bullish cup and handle pattern on the daily timeframe, which could signal a higher low and indicate a shift in market sentiment if validated.
Furthermore, a short-term bullish divergence has been observed on the 2-hour chart, which often results in a relief rally or sideways price action.
Source: coinpedia.org
