XRP Price Analysis for February 4

Price Predictions
Thu, 02/04/2021 - 16:23
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Denys Serhiichuk
Can XRP grow faster than most of the other popular coins?
XRP Price Analysis for February 4
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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Most of the top 10 coins have continued the bullish trend; however, there are some exceptions to the rule. Mainly, Litecoin (LTC), Chainlink (LINK) and Bitcoin Cash (BCH) are in the red zone.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The market capitalization index keeps increasing and is now $1.13 trillion.

Cryptocurrency market capitalization
Cryptocurrency market capitalization

The relevant data for XRP is looking the following way:

  • Name: XRP

  • Ticker: XRP

  • Market Cap: $17,612,983,901

  • Price: $0.3843

  • Volume (24h): $8,301,761,410

  • Change (24h): 3.06%

The data is relevant at press time.

XRP/USD: How fast can bulls get to $0.45?

Yesterday, the XRP price tried to break through the resistance of $0.40, but the growth was not supported by large volumes. After the daily maximum at $0.42, the pair again rolled back below the $0.40 mark.

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

If the four-hour moving average EMA55 continues to keep the pair from falling then, by the end of the week, buyers' attempts to restore the XRP price to the $0.50 area will continue.

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

On the daily chart, XRP is also bullish as the liquidity is high, as well as the buying volume.

Related
BTC, EOS, ADA, LINK and DOT Price Analysis for February 2

In this case, the rate of the altcoin may rise to $0.50 within the next few days.

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

From the bigger perspective, XRP has the potential to get to $0.65. Such a move is supported by the low selling trading volume. If XRP keeps trading above $0.40, there are chances to get to the resistance by mid-Mach 2021.

XRP is trading at $0.4085 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.