XRP Price Prediction for February 5

The market is neither bullish nor bearish today, according to CoinStats.

XRP/USD

The price of XRP declined by 2.85% over the last 24 hours.

On the hourly chart, the rate of XRP is falling after a false breakout of the local resistance of $2.5646. If sellers’ pressure continues, one can expect a test of the local support support of $2.4702. 

On the bigger time frame, the price of the altcoin is neutral. The volume keeps going down, confirming the absence of buyers or sellers’ energy. In this case, one should focus on the nearest area of $2.40. 

Related

If it breaks out, there is a chance to see a test of the $2.20 zone.

From the midterm point of view, the rate of XRP has bounced back to the support level of $1.9669. If the weekly candle closes far from the mentioned mark, traders might witness a test of the $3 range.

XRP is trading at $2.5141 at press time.