XRP Price Prediction For February 7

Share This Post

XRP Price Prediction

The post XRP Price Prediction For February 7 appeared first on Coinpedia Fintech News

Ripple’s XRP is currently down by more than 23% in the last seven days and is now trading below the $2.40 mark. The altcoin last traded above the $3 mark on February 1. XRP is now trading within a broader sideways range. Despite a failed breakout attempt on January 16, where the price couldn’t sustain above the all-time high, a larger corrective pullback followed. This pattern suggests a potential continuation or reversal, with two possible scenarios in play. However, Bitcoin and majority of the top 10 altcoins have slid into the red zone and the overall market cap has also taken a hit.

Short-Term Bullish Outlook

The short-term bullish scenario sees XRP bottoming on February 3 and potentially moving towards new highs, aiming for levels between $4.20 and $5. If the price can break the $3 mark again, the next target could be $6.60.

Short-Term Bearish Outlook

In the bearish scenario, the recent dip could just be part of a larger corrective wave. A break below key support levels like $2.20 or $2.10 could signal a deeper decline, possibly leading to a drop towards $1.95. This scenario requires careful attention to the overall market structure.

Key Support Levels to Watch

Important support levels for XRP include $2.35, $2.22, and $2.11. A break below $1.95 could trigger a larger drop, bringing the price down to around $1.20, but this would likely signal a return to a larger correction phase.

Bullish Breakout Signal

Any movement above the trendline or a price surpassing $2.70 would indicate a shift in the microstructure and the potential for an upside reversal. Traders should keep an eye on this breakout signal for a possible rally.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

XRP Price Prediction 2030: Will XRP Hit $5 After the Ripple vs SEC Lawsuit?

The post XRP Price Prediction 2030: Will XRP Hit $5 After the Ripple vs SEC Lawsuit appeared first on Coinpedia Fintech News Story Highlights The XRP Price LIVE: The price could hit a high of $399

Best Crypto To Buy Now For 1000% Gains: Top Crypto Coins that Crypto Whales are Buying Up

The post Best Crypto To Buy Now For 1000% Gains: Top Crypto Coins that Crypto Whales are Buying Up appeared first on Coinpedia Fintech News Looking for the best crypto to buy now In this in depth

Bitcoin Crash Ahead? Peter Schiff Predicts BTC at $20K as Gold Surges

The post Bitcoin Crash Ahead Peter Schiff Predicts BTC at $20K as Gold Surges appeared first on Coinpedia Fintech News Since the start of 2025, the Nasdaq Composite index has slipped by over 821% The

Telegram Co-Founder Released: Check Out $TON and 3 Best Altcoins with Explosive Potential

Telegram co-founder Pavel Durov has finally returned to Dubai after spending months in France about an investigation into illegal activities in the messaging platform French authorities have placed

Bitcoin Bull Run ‘Is Over’: CryptoQuant CEO Sounds The Alarm

CryptoQuant CEO Ki Young Ju announced today that Bitcoin’s bull cycle “is over” and warned investors to brace for “6–12 months of bearish or sideways price action” This development comes

Wages Paid in Bitcoin? Bill Introduced in Brazil Might Make It Possible

The bill seeks to allow wages and other labor-linked payments to be partially settled using virtual assets in Brazil and also calls for educating workers about volatility and transaction security