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XRP Price Analysis for February 11

Sat, 02/11/2023 - 19:00
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Denys Serhiichuk
Can next week become bullish for XRP?
XRP Price Analysis for February 11
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Bulls do not seem ready to keep the coins growing, according to CoinMarketCap data.

Top coins by CoinMarketCap


XRP has followed the decline of Bitcoin (BTC), going down by 0.54%.

XRP/USD chart by TradingView

Despite today's drop, XRP is looking quite positive on the local time frame as the rate is trying to fix above the $0.38 mark. If bulls manage to do that, there is a high chance to see a breakout of the resistance followed by an impulse to the $0.3850 area.

XRP/USD chart by TradingView

On the daily chart, XRP might have entered an accumulation phase after the sharp drop. In this case, the more likely scenario is sideways trading in the narrow range of $0.38-$0.3850 so the altcoin could get more energy for a further move.

XRP/USD chart by TradingView

From the midterm point of view, the price is below the nearest support level at $0.3860, which means that there is a higher chance to see a further decline than a bounce back.

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However, if a false breakout happens, bulls could seize the initiative and bring the rate back to the $0.40 area.

XRP is trading at $0.3829 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at