The post XRP Price Analysis for February 2 appeared on BitcoinEthereumNews.com. The market might have found a local bottom by now, but the rates of some coins keepThe post XRP Price Analysis for February 2 appeared on BitcoinEthereumNews.com. The market might have found a local bottom by now, but the rates of some coins keep

XRP Price Analysis for February 2

The market might have found a local bottom by now, but the rates of some coins keep falling, according to CoinMarketCap.

Top coins by CoinMarketCap 

XRP/USD

The price of XRP has risen by 0.53% over the last 24 hours.

Image by TradingView

On the hourly chart, the rate of XRP is trading near the local resistance at $1.6554. Most of the daily ATR has passed, which means there are low chances of seeing sharp moves. 

You Might Also Like

However, if the candle closes not far from the mentioned mark, the upward move may continue to the $1.70 area tomorrow.

Image by TradingView

On the longer time frame, none of the sides is dominating, as the price of XRP is far from the main levels. The volume remains low, which means traders are unlikely to witness increased volatility over the next few days.

Image by TradingView

From the midterm point of view, the situation is similar. Neither buyers nor sellers are controlling the initiative. In this case, sideways trading in the zone of $1.50-$1.75 is the most likely scenario until mid-February.

XRP is trading at $1.6349 at press time.

Source: https://u.today/xrp-price-analysis-for-february-2

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.