XRP Price Prediction For February 1
When we entered February in February, XRP has been facing some mergers. In the past few days, the price has remained relatively stable. This price action is based on its recent $ 3.40 autumn high (January 16 reached $ 3.40). In order to make XRP enter the new historical highest field, this level needs to be damaged.
Short -term price action: side merger
Now, XRP is experiencing a period of integration, Wandering at $ 3.10 below $ 3.10. Although the price has not been moved up recently, this may be just a temporary stage before the potential breakthrough.
Long -term prospect: Possible fifth wave
View long -term charts, XRP seems to be in the fifth wave that can complete long -term upward trends. Once this wave is completed, the market may experience more correct or retreat. The scope of these callbacks from four smaller waves to larger and more obvious correction. Although the short -term prospects seem positive, long -term views show that after the fifth wave is completed, there may be a major retracement.
The key price level should be watched
- Short -term support: The price is supported at a critical level, especially at the second wave of the bids on January 27th.
- Short -term resistance: The area of $ 3.40 is still a significant level of resistance. Beyond this advantage will be aimed at higher prices, $ 4.20, $ 5 and $ 6.62 as the next potential rise.
However, if the price falls below, it indicates that the larger wave of waves is still ongoing.
Potential risk: below $ 2.52
The market may still face setbacks because it is not easy to break the highest height of history. If XRP is less than $ 2.52, it may mean that it is being more corrected. Actions below $ 2.52 may indicate that with greater correction, Wave Four is still unfolding, and the level of $ 1.96 will become the focus.
