XRP Price Prediction For February 24
Ripple’s XRP is currently down more than 2% and trading at $2.50. Broader sentiment has turned red, with Bitcoin currently trading below $96,000. XRP’s price remains in a difficult position, struggling at key resistance levels. The current resistance area is between $2.65 and $2.80 and has shown a strong rejection on several occasions to prevent price increases. Despite these rejections, there is no shift towards bearish momentum, indicating a lack of clear direction in the market.
Support level and market behavior
Currently, XRP bounces between support and resistor. According to Crypto World analyst Josh, the first support level is about $2.50, with further support ranging from $2.25 to $2.30. This suggests that XRP is range-defined, indicating a lack of decisive motion in either direction. Attempts to bullish moves stagnate under resistance, while bearish moves do not gain enough strength to drive prices down.
Potential bullish breakthroughs and future resistance
If XRP manages to exceed $2.80 and close candles above above, it may mark the beginning of a bullish relief rally, which may put prices up to $3. However, around $3, XRP may face resistance again. Currently, the confirmed breakthrough is over $2.80 to increase the price.
The prospects of XRP in the short term
In the short term, XRP’s price action is expected to remain relatively stable, and a lack of motivation may lead to the continued lateral movement. As of now, short-term traders may experience some boring price action until a breakout or breakdown occurs.
