XRP Price Prediction For February 16
Ripple’s XRP is currently down more than 1% and trades at $2.78. To get breakthrough confirmation, XRP needs to exceed the $2.80 swing high on February 4. The market may still face resistance until it sees a confirmed breakthrough.
Resistance level is higher than current price
In a smaller time frame Prices fluctuate near different support areas, closer to current price levels. If XRP exceeds $2.80, the next resistance level is $2.96 and $3.30. This is critical because if the rally is corrective, analysts will not expect it to exceed previous highs. If the price exceeds $3.30, the market may need to reassess whether the pullback has been completed and whether the market is ready to improve.
Possible callbacks
If the price drops back to the support zone, it can provide withdrawal traders with an opportunity to enter the market. However, if the price explodes directly, attention will shift to the resistance area, and $3.40 is a key monitoring level.
Potential targets of XRP
For bullish situations, the price will need to exceed the high price of $3.40 in January. If this happens, XRP may move towards a price of $4.20, $5 or even $6.60, completing the five-wave pattern. After that, major corrections can be made. Another height would be ideal, but the market may take some time to confirm this.
There is considerable resistance ahead, and it is important to be cautious. A confirmed breakout has not yet occurred and although the price may be higher, a pullback may occur before any new highs.
