XRP Price Prediction For February 12
Ripple’s XRP is currently down more than 3% and trading at $2.40. After an impressive recovery on February 3, AltCoin showed lateral action. Currently, XRP is in the lateral range and it may be guessed that it can form a triangle or possibly a continuation pattern. The market is currently in a waiting phase and the next few days will determine whether XRP can surpass resistance or fall further.
This week, two important events are taking place that could affect XRP holders: the Consumer Price Index (CPI) on Wednesday, February 12 and the Manufacturer Price Index (PPI) on Thursday. Although XRP is currently being integrated, these reports may temporarily affect its prices, especially in the context of ongoing market uncertainty and fear.
Key support and resistance levels
- Key support levels: XRP is currently being tested Key support is close to $1.95 (medium term). Rests below $1.95 may mean further weaknesses in price action.
- Resistance level: To confirm the bullish move, XRP needs to be discounted at $2.72, which is the resistance point for the current price structure. Rests above $2.72 may lead to a shift to a higher level, making it possible to test the historical height of $3.40 (long-term).
Major considerations for bullish movement
- Important trend reversal levels: Movements over $2.72 may mark the beginning of the next leg. However, to maintain this, the price must also exceed the $2.79 to $2.80 price.
- Potential risk zone: XRP may continue within the current range until a confirmed breakthrough occurs on resistor or support. Patience is essential because sudden downward moves can lead to further risks, while breakthroughs in upward space may lead to trading opportunities.
