- XRP faces resistance at $2.80, with $2.50 acting as key short-term support.
- RSI at 40.26 signals bearish momentum, but stronger buying may emerge below 30.
- Forecasts suggest an 12.87% gain, with XRP potentially reaching $2.98 in February.
XRP has demonstrated a strong upward movement, currently trading at $2.57, reflecting a 9.80% daily increase. The surge highlights growing investor interest, but declining trading volume suggests reduced activity following the price jump. Market forecasts for February suggest a further increase, providing investors with a broader perspective on XRP’s outlook.
Support and Resistance Levels to Watch
XRP has established crucial support levels that could prevent a deeper decline. The $2.32 level played a pivotal role in the recent rebound, making it a strong support area. Additionally, $2.50 serves as immediate support, as the price briefly tested and held above this level. Maintaining these levels could reinforce a bullish trend.
Source: CoinMarketCap
On the resistance side, $2.60 has emerged as a minor barrier, briefly slowing XRP’s recent climb. However, the most significant resistance stands at $2.80, where selling pressure intensified. A breakout above this level could open the door for further gains, while failure to surpass it may trigger consolidation or a short-term pullback.
Key Indicators Signaling Market Trends
XRP/USD daily price chart, Source: TradingView
Technical indicators suggest a mix of bullish and bearish signals. The RSI currently stands at 40.26, indicating bearish momentum, but it has yet to reach oversold conditions. If RSI drops below 30, stronger buying pressure could emerge, potentially stabilizing the price. Previously, RSI near 56.37 signaled a weakening bullish trend, which aligns with the recent correction.
Additionally, the MACD histogram shows decreasing momentum, confirming a bearish divergence. The MACD line crossing below the signal line suggests a short-term downtrend unless buying volume increases. If momentum shifts, XRP could see renewed upward movement, retesting resistance levels.
Market Forecasts for February 2025
Coincodex analysts predict a potential 12.87% increase in XRP’s price for February, projecting an average of $2.83. Price fluctuations could range from $2.72 to $2.98, offering a potential return of 18.73% from the current level. However, sustaining upward momentum depends on market sentiment, trading volume, and external factors influencing investor confidence.