XRP Price Prediction – February 14
The market-worth of XRP/USD has now been witnessing a kind of price appreciation after sprang northward from a main low value of $0.30 mark on the January 30 trading day’s session.
Resistance levels: $0.70, $0.80, $0.90
Support levels: $0.40, $0.35, $0.30
XRP/USD – Daily Chart
It is now apparent that the bullish candle formation in the crypto’s market on January 30 has come to form the basis of the current price upswings. The volatility that occurred in the crypto-trade on February 1, almost caused panic sell-offs during which the market saw a reverse after closely approaching a high-point of $0.80. Both the bullish trend-line and the 14-day SMA are closely positioned pointing towards the north. The 50-day SMA trend-line is separated with a space from the smaller SMA trading indicator. The Stochastic Oscillators are seen around range 60 pointing to the northbound. All in all, some of the indicators still suggest the possibility of seeing more increases in the crypto’s valuation in the near trading time.
Will XRP/USD trades past the current $0.60 resistance mark?
Going by the reading of some of the trading indicators, the XRP/USD market may have to witness a series of range-bound moves around $0.60 and $0.70 levels for a while. In the wake of that scenario, XRP’s value may continue in its current northward pushes to a high point around $0.80. as of now, the decent base-line for bulls has been detected around $0.50 point. A forceful downward break of it may again lead to panic sell-offs.
Talking about a return of bearish trend, there has been no clear signal to affirm that as of writing. Nevertheless, a reversal from a sudden bullish move cutting $0.70 and $0.80 price levels will allow bears to another head grab of the crypto-market. As it is quite a habitual market-moves, the XRP/USD needs this time around to sustainably breakout over the $0.80 long-standing resistance value to prevent a re-occurrence as in the recent trading sessions.
XRP/BTC Price Analysis
Quite a long time of trading in the comparison, the valuation of XRP has been under a falling pressure as paired with the flagship cryptocurrency- Bitcoin. Meanwhile, the crypto-pair now trades around lowly range trading zones of B0.000015 and B0.000005 levels. On February 1, the base-crypto spiked northward above the B0.000015 upper range-line. But, it couldn’t sustain holding over it as it moved back into the range-trading zones in no time. The 14-day SMA has managed to cross the 50-day SMA from below. They both point to the east to indicate that there is an ongoing sideways move in the crypto-market currently. The Stochastic Oscillators now attempt closing the hairs a bit over range 20. That’s an indication that the base-crypto is still struggling to regain its feet in the market.
Remember, all trading carries risk. Past performance is no guarantee of future results.