We will be scrutinizing the past prices and market sentiment for Ripple, in order to formulate an XRP price prediction for February 2020.
XRP, the native coin of the Ripple platform, currently sits in 3rd place in the crypto market, with a market cap of $10,984,893,803 and a trading price of $0.251454. There are currently 43.685.558.183 XRP in circulation out of a total of 99.991.098.384 XRP.
Ripple had a 24-hour trading volume of $2,647,902,406. The highest price XRP reached in the last 24 hours was $0.251454.
Ripple (XRP) Price Prediction: Analysis
In the latter part of January, the coin remained relatively stable, with minor price swings. From January 14th, XRP has been struggling to stabilize itself above the $0.24 resistance level.
In the past few days leading up to the end of the month, XRP has slowly climbed to reach the $0.2400 resistance. On January 29th, XRP reached $0,241267 but fell back to $0.23 levels quickly. Then, on January 30th, XRP once again tested the $0.24 resistance, but this time it closed that day at $0,243642.
January 31 saw XRP opening at $0,243390, continuing to ride the bullish momentum of the previous day.
The coin’s price is still in a steady uptrend, with traders still hopeful that the rise will continue to $0.3000.
The coin once again started to increase after it tested $0.2320 support, gaining momentum to break the $0.2350 resistance area. At the beginning of the day, XRP managed to go past the $0.2410 and reach a new intraday high at $0.2459.
But soon after this uptick, XRP started correcting back to the $0.2440 level. The price continued to decline steadily in the past few hours, and as of now, it is trading at $0.251454.
The crucial support is set at $0.2350 level, and if the price dips below such value, XRP might have issues rebounding to positive prices.
WalletInvestor’s pivot, resistance, and support levels for XRP are:
- Resistance Level (R3): 0.262
- Resistance Level (R2): 0.254
- Resistance Level (R1): 0.249
- Pivot Point: 0.241
- Support Level (S1): 0.235
- Support Level (S2): 0.227
- Support Level (S3): 0.222
A few days ago, it was announced that marketplace goLance will be using XRP as payment on its global network of 500,000 users. The company officially released its Ripple’s XRP-based cross-border payments platform called On-Demand Liquidity.
“I get on planes to places like the Philippines and meet these people face-to-face. That’s helped me see first-hand why freelancers are hyper-sensitive about the cost and time it takes to be paid. RippleNet’s On-Demand Liquidity gives us the ability to make hyper-efficient, low-cost payments that make our customers happy and drive growth for our business.” – said goLance CEO, Michael Brooks.
But Ripple also had some bad news this month as Wietse Wind, the developer of defunct projects XRPTipbot and sms.xrptext.com, revealed that his XRPtext project (which enables XRP users to deposit, withdraw or send funds in the crypto via phone number) will be also shutting down by the end of next month. The closure was allegedly because of regulatory issues. But on the upside, Wietse Wind is now the lead developer of another Ripple’s initiative, the Xumm application. The app is based on Ripple’s native token XRP, designed to access banking financial services without third party mediation.
In the media, Ben Askren, former UFC fighter, has expressed his skepticism towards XRP in a tweet posted on Jan. 28: “I think XRP is a scam.” The Twitter community quickly expressed their negative concerns regarding XRP, with the tweet amassing over 2,000 likes.
Ripple Market Price Predictions for February
Various sites have made their own XRP price prediction for February 2020, so we decided to incorporate some of the most relevant ones to better portray market sentiment.
Longforecast predicted that XRP will change hands at $0.24 when February starts. They predicted that the possible maximum price could reach $0.29, with a minimum price of $0.22. The month’s average price was established at around $0.26. The closing price of the month was estimated at $0.27, change for February 12.5%.
Digitalcoinprice has a bullish XRP price prediction for February, foreseeing a price of $0.43872647, which signifies a growth of 83.35 %.
Tradingbeasts estimated that XRP would begin February at $0.2926956, with a maximum price of $0.3604314, and a projected minimum value of $0.2450934. The closing price of Ripple at the end of the month is $0.2883451.
Coinpredictor forecasted that XRP would increase by 2.7% at the start of February, representing an opening price of $0.298446. The price estimated for the end of the month is $0.260668, with a drop of 10.3%.
WalletInvestor made predictions for the first ten days of February, along with the minimum and maximum values of each particular day.
|Date||Price||Min Price||Max Price|
Gov.capital’s XRP trading price for the start of February is $0.227, with a maximum price of $0.26105 and a minimum price of $0.19295.
|2020 February 03, Monday||0.168||0.1428||0.1932|
|2020 February 04, Tuesday||0.160||0.136||0.184|
|2020 February 05, Wednesday||0.115||0.09775||0.13225|
|2020 February 06, Thursday||0.0889||0.075565||0.102235|
|2020 February 07, Friday||0.117||0.09945||0.13455|
|2020 February 08, Saturday||0.130||0.1105||0.1495|
|2020 February 09, Sunday||0.161||0.13685||0.18515|
|2020 February 10, Monday||0.233||0.19805||0.26795|
|2020 February 11, Tuesday||0.2043||0.173655||0.234945|
|2020 February 12, Wednesday||0.221||0.18785||0.25415|
|2020 February 13, Thursday||0.216||0.1836||0.2484|
|2020 February 14, Friday||0.227||0.19295||0.26105|
|2020 February 15, Saturday||0.260||0.221||0.299|
|2020 February 16, Sunday||0.256||0.2176||0.2944|
|2020 February 17, Monday||0.265||0.22525||0.30475|
|2020 February 18, Tuesday||0.258||0.2193||0.2967|
|2020 February 19, Wednesday||0.259||0.22015||0.29785|
|2020 February 20, Thursday||0.258||0.2193||0.2967|
|2020 February 21, Friday||0.228||0.1938||0.2622|
|2020 February 22, Saturday||0.216||0.1836||0.2484|
|2020 February 23, Sunday||0.214||0.1819||0.2461|
|2020 February 24, Monday||0.2078||0.17663||0.23897|
|2020 February 25, Tuesday||0.191||0.16235||0.21965|
|2020 February 26, Wednesday||0.192||0.1632||0.2208|
|2020 February 27, Thursday||0.198||0.1683||0.2277|
|2020 February 28, Friday||0.189||0.16065||0.21735|
The closing price for XRP on February 29th is $0.199, with the least possible price of $0.16915, and the best possible price of $0.22885.
Cryptorating assessed that XRP would be trading at $0.249413, with a change of 3.88% at the beginning of February. The expected closing price for XRP is $0.374883, which signifies a growth of 56.13%.
Cryptoground estimated that XRP would be trading at $0.2907, with a change of 21.28% when February starts and anticipated a growth of 22.13% towards the end of the month, which would bring the price at $0.2928.
30rates made an XRP price prediction for every day of February (except weekends), with the minimum, maximum, and closing prices for each day.
- February, 3: minimum price $0.234, maximum $0.270, and closing price $0.252;
- February, 4: minimum price $0.229, maximum $0.263, and closing price $0.246;
- February, 5: minimum price $0.234, maximum $0.270, and closing price $0.252;
- February, 6: minimum price $0.236, maximum $0.272, and closing price $0.254;
- February, 7: minimum price $0.248, maximum $0.286, and closing price $0.267;
- February, 10: minimum price $0.250, maximum $0.288, and closing price $0.269;
- February, 11: minimum price $0.241, maximum $0.277, and closing price $0.259;
- February, 12: minimum price $0.232, maximum $0.266, and closing price $0.249;
- February, 13: minimum price $0.229, maximum $0.263, and closing price $0.246;
- February, 14: minimum price $0.234, maximum $0.270, and closing price $0.252;
- February, 17: minimum price $0.233, maximum $0.268, and closing price $0.250;
- February, 18: minimum price $0.221, maximum $0.255, and closing price $0.238;
- February, 19: minimum price $0.225, maximum $0.259, and closing price $0.242;
- February, 20: minimum price $0.239, maximum $0.275, and closing price $0.257;
- February, 21: minimum price $0.235, maximum $0.271, and closing price $0.253;
- February, 24: minimum price $0.225, maximum $0.259, and closing price $0.242;
- February, 25: minimum price $0.253, maximum $0.291, and closing price $0.272;
- February, 26: minimum price $0.254, maximum $0.292, and closing price $0.273;
- February, 27: minimum price $0.255, maximum $0.293, and closing price $0.274;
- February, 28: minimum price $0.256, maximum $0.294, and closing price $0.275.
Ripple Price Prediction: Verdict
With this, we conclude our Ripple price prediction for February 2020. We hope that the information will be helpful in your upcoming XRP trading endeavors.
Featured image: ethereumworldnews.com