The post XRP Price Prediction For February 23 appeared first on Coinpedia Fintech News
The latest analysis of XRP’s price chart suggests the cryptocurrency has likely reached its bottom, with predictions of a potential rise. Looking at the daily chart of XRP, the price has been trading sideways, bouncing between a major support level and resistance. The price is currently facing resistance between $2.65 and $2.80. On the downside, there is significant support around $2.50, and below that, a stronger support zone between $2.25 and $2.30.
Resistance Levels
According to analyst Josh of Crypto World, the primary resistance zone for XRP lies between $2.65 and $2.80. The price has yet to break above this range, and until it does, the upward movement remains limited. If XRP can close above the $2.80 mark with confirmed candles, we could see a continued upward movement towards $3. Once reaching $3, however, the price could encounter resistance again around this level.
Support Levels
On the downside, XRP has decent support at around $2.50. Should the price fall below this level, there is stronger support in the range of $2.25 to $2.30. If the price fails to hold these levels, it could signal further downside potential.
Long-Term Predictions
On the larger time frame, XRP began a rally in July and has been following a potential upward structure. The key support area is between $1.20 and $1.27, and as long as the price stays above this range, the bullish outlook remains intact. This sideways range between $1.20 and $4.20 has been a common pattern for XRP, and it could continue for a while. The current price movement suggests the upside may still be incomplete, and a break above the previous highs of $2.65 to $2.80 could signal a continuation toward the $5-$6 target range for the next cycle.
