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XRP price prediction
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As the market for altcoins shows signs of bullish movements, investors are becoming more and more interested in such assets, especially because Bitcoin is considered too expensive for most people. One of the altcoins that is trying to break out against all odds is Ripple’s XRP. We will look at XRP price prediction and analysis for February 2021 to help you make a decision on whether to buy or not.

Ripple (XRP) Overview

XRP price prediction

XRP is the primary token used to provide liquidity for cross-border payment on the Ripple payment network, RippleNet. Ripple uses a distributed ledger technology (DLT) to provide payment services to several financial institutions around the world. XRP is currently the 5th largest cryptocurrency by market capitalization after it was displaced by Tether (USDT) in 2020 and Polkadot (DOT) recently.

According to Coin Market Cap, the asset has a market cap of $13,090,497,301. There are 45,404,028,640 XRP in circulation, and $4,753,484,878 worth of it has been traded in the last 24 hours. The current XRP price is $0.2895.

Ripple (XRP) Price Prediction: Analysis

2020 was a bumpy ride for XRP. Sadly, the same trend has continued this year and could get worse. The cryptocurrency, which was the third-largest, has been replaced twice to now become the 5th largest. This is as a result of the stagnation in the price for some time now. Since the bull run in November 2020, which XRP benefited from, it has been on a downward trend until recently.

The price got to the yearly peak of over $0.7 on 25 December 2020 but has been dropped sharply since then. This got worse when the SEC filed a lawsuit against Ripple, which led to the delisting of the asset on some major exchanges. The price dropped to $0.17 for the first time in the year but has since bounced back above $0.2 on the same day.

This year, XRP hit its YTD price of $0.355 on 7 January and has only dropped below $0.3 briefly but has been hovering around that price most of the time.

XRP price prediction

Looking at the daily analysis chart, XRP just printed two green candles for the first time in the last four days. Although this is a good sign, some indicators, such as Moving Averages, suggest otherwise. The 20 MA, for instance, crossed below the 100 MA since January 4 and is not even close to crossing back up.

However, the 50 MA remains on top of the 100 MA. This is technically positive, as the shorter-term 50 MA is above 100MA. Overall though, a clear bullish pattern may not be established until the 20 MA crosses above the two.

XRP price prediction

Another key metric, which is the Relative Strength index, suggests that there may be hope. The RSI currently shows an oversold condition at just over 48. This means that buyers can take control, and this will potentially drive the price up. According to a recent analysis, XRP is on the verge of breaking upward to $0.4 as it has been consolidating. This will be the first time the asset crosses above this level since November 2020.

The current green candles may be the start of that upward break (or not), but it remains to be seen as time passes. Below are important support and resistance levels to guide traders in their decisions as calculated by Walletinvestor:

  • Resistance Level (R3): 0.3048;
  • Resistance Level (R2): 0.296;
  • Resistance Level (R1): 0.290;
  • Pivot Point: 0.282;
  • Support Level (S1): 0.276;
  • Support Level (S2): 0.267;
  • Support Level (S3): 0.262.

Developments

Several top exchanges have decided to delist XRP following the court case against Ripple and its executives. The latest of these exchanges is Kraken, which delisted XRP 4 days ago. The trading of XRP is, however, halted only for US residents as the US SEC is the one alleging that XRP is a security and not a cryptocurrency. The delisting is to take place on or before 29 January, but US residents will still be able to deposit, hold, or withdraw XRP from the exchange. The announcements did not state how long the ban will last but that the exchange is monitoring the case and will adapt according to any new developments.

Ripple (XRP) Price Prediction: Market Opinion for February 2021

The following are the XRP price prediction opinions of some top websites that you may find useful.

Walletinvestor

Walletinvestor predicts that between now and 2 February, XRP could reach a high of $0.354 and a low of $0.168.

Longforecast

Longforecast expects XRP to start the month of February at $0.27, reach a high of $0.35, and the lowest price of $0.22 before closing the month at $0.27 again.

Tradingbeasts

This website foresees the XRP price to be at $0.3878281 at the start of February. The price may reach a high of $0.4865302, a minimum price of $0.3308405 and close the month at $0.3892241.

Gov.capital

This website is very bearish on XRP. It predicts that XRP will open February at $0.1024. The best possible price is 0.11776, and on 6 February, the price is expected to come to zero as shown in the table below:

Calendar dateRegularLeast possible priceBest possible price
2021 February
2021 February 01, Monday 0.126 0.1071 0.1449
2021 February 02, Tuesday 0.0534 0.04539 0.06141
2021 February 03, Wednesday 0.07048 0.059908 0.081052
2021 February 04, Thursday 0.0714 0.06069 0.08211
2021 February 05, Friday 0.0357 0.030345 0.041055
2021 February 06, Saturday 0.0132 0.01122 0.01518
2021 February 07, Sunday 0.0391 0.033235 0.044965
2021 February 08, Monday 0.04069 0.0345865 0.0467935
2021 February 09, Tuesday 0.0731 0.062135 0.084065
2021 February 10, Wednesday 0.142 0.1207 0.1633
2021 February 11, Thursday 0.121 0.10285 0.13915
2021 February 12, Friday 0.147 0.12495 0.16905
2021 February 13, Saturday 0.153 0.13005 0.17595
2021 February 14, Sunday 0.164 0.1394 0.1886
2021 February 15, Monday 0.187 0.15895 0.21505
2021 February 16, Tuesday 0.174 0.1479 0.2001
2021 February 17, Wednesday 0.176 0.1496 0.2024
2021 February 18, Thursday 0.180 0.153 0.207
2021 February 19, Friday 0.184 0.1564 0.2116
2021 February 20, Saturday 0.179 0.15215 0.20585
2021 February 21, Sunday 0.147 0.12495 0.16905
2021 February 22, Monday 0.124 0.1054 0.1426
2021 February 23, Tuesday 0.123 0.10455 0.14145
2021 February 24, Wednesday 0.115 0.09775 0.13225
2021 February 25, Thursday 0.1028 0.08738 0.11822
2021 February 26, Friday 0.0980 0.0833 0.1127
2021 February 27, Saturday 0.1055 0.089675 0.121325
2021 February 28, Sunday 0.0947 0.080495 0.108905

Ripple (XRP) Price Prediction: Verdict

With this, we conlcude our Ripple price prediction for February 2021. We hope that the information will be helpful in your upcoming XRP trading endeavors.

Featured image: ethereumworldnews.com

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