XRP Price Prediction For February 20

The post XRP Price Prediction For February 20 appeared first on Coinpedia Fintech News

Ripple’s XRP has currently drifted into the green zone and is trading above the $2.70 levels after gaining 6% in the last 24 hours. According to an analyst, XRP’s price on the daily time frame is currently retesting a significant resistance zone between $2.65 and $2.80. This area has previously caused multiple rejections, making it a crucial level to monitor in the coming day. If the  resistance at $2.80 is surpassed and flipped into support, the next major resistance point would be around $3. 

Potential Bullish Pattern in Play

A breakout above $2.80 could indicate the formation of a bullish “cup and handle” pattern. However, this pattern is not yet confirmed. For validation, a daily close above $2.80 is required. If the breakout happens, the technical price target would be close to the all-time high of $3.37, just under $3.40.

Short-Term Outlook: Watch for Confirmation

For now, XRP’s price is likely to continue facing resistance around the $2.65–$2.80 range. Another rejection from this level is possible, making confirmation of a breakout essential before assuming bullish movement. On the support side, XRP has a small level of support near $2.50. Below that, the next significant support zone is between $2.25 and $2.30.

Short-Term Bullish Divergence: Signs of Relief

A short-term bullish divergence has been confirmed, invalidating the previous bearish divergence that played out over the past week. The price had previously formed lower lows, while the RSI showed higher lows, meaning  potential for a bullish relief rally. This relief is currently playing out as expected. This divergence suggests more upward movement in the short term or at least sideways price action with resistance near $2.80.