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XRP Price Prediction For February 18
As we approach the end of February, it’s essential to review the current market dynamics and provide a comprehensive XRP price prediction for February 18. The Ripple-based cryptocurrency has been experiencing some intense price swings recently, which requires careful analysis to make an accurate forecast.
Currently, XRP is trading below $2.70, having dropped by more than two percent in the last few hours. However, it’s important to note that this downturn comes after a remarkable 8% increase over the past seven days. The asset has been oscillating around the $2.58-$2.73 range, which presents an immediate support and resistance zone.
From a technical perspective, if XRP fails to maintain its current level and closes below $2.58 on the daily chart, it would be considered a failed breakout attempt. This could potentially lead to a price drop towards the next significant support area between $2.25-$2.30, which has been a crucial level of support in the past.
On the other hand, if XRP successfully flips this resistance into support and maintains its current levels, it could signal the start of an upward continuation. The next major hurdle lies at $2.79, and if breached, it would indicate a more substantial price increase towards $3.
Furthermore, I have detected a bearish divergence on both the daily and 3-day charts, which suggests that the price may pull back or enter into a period of sideways action. This phenomenon occurs when higher highs in price are accompanied by lower highs in RSI (Relative Strength Index). As long as XRP remains below $2.79, the overall trend is expected to continue under downward pressure.
In conclusion, it’s crucial for traders and investors to closely monitor XRP’s current levels around $2.58-$2.73. A failure to maintain this level could lead to a price correction towards the previously mentioned support areas, while any successful breakout could pave the way for further upward momentum.
Source: coinpedia.org
