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XRP Price Analysis for February 14

Price Predictions
Sun, 02/14/2021 - 14:16
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Denys Serhiichuk
Has XRP accumulated enough efforts for a retest of $0.75?
XRP Price Analysis for February 14
Cover image via www.tradingview.com

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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The last day of the week has turned out to be bullish for the cryptocurrency market as most of the coins remain trading in the green zone. Cardano (ADA) is the only loser, falling by 1.78%.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The market capitalization index keeps going up and is now $1.5 trillion.

Cryptocurrency market capitalization
Cryptocurrency market capitalization

The relevant data for XRP is looking the following way:

  • Name: XRP

  • Ticker: XRP

  • Market Cap: $27,034,447,004

  • Price: $0.5954

  • Volume (24h): $10,539,466,770

  • Change (24h): 0.60%

The data is relevant at press time.

XRP/USD: Can XRP get the growth to $0.75 next week?

The rate of XRP is almost unchanged over the last day. The rate of the altcoin has gone up by 0.60%.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

On the hourly chart, XRP is about to restest the liquidity zone at $0.61 shortly. Such a scenario is possible as the selling trading volume is slightly going down.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

On the bigger time frame, the situation is less bearish as the current liquidity is not enough for a continued rise.

Related
BTC, XRP, DOGE, XLM, ADA and IOTA Price Analysis for February 12

Respectively, there is a high chance of seeing XRP trading at the MA 50 level around $0.51 next week.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

On the daily chart, the growth price action remains the most likely scenario if bulls keep trading above $0.53. Thus, XRP is trading within the ascending channel that confirms the ongoing power of buyers. All in all, the local resistance at $0.75 may be tested next week if the trading volume increases.

XRP is trading at $0.5830 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 & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.