XRP To See Some Salvation In February – Or Will It?

Blockchain, News, Opinion | February 3, 2020 By:

Ripple’s performance for the past 24 months has been absolutely terrible. The coin has been on a non-stop downward spiral for the majority of 2018 and 2019. Even 2020 seemed like a terrible year for XRP as it started with one of the lowest exchange rates the coin had ever seen.

January was quiet enough for XRP bulls to remain prepared for what they’re doing now in February. Shills could be heard all over Twitter for this coin, and it seems that they’ve finally started taking over.

As mentioned by InvestingHaven in their XRP predictions, it is simply impossible for a coin to be in a downward trend for 24 months and not see some kind of resurgence sooner or later. They seemed to be right because the moment we take a look at Ripple’s 2020 chart, we immediately see a strong consolidation with a reason behind it rather than just plain old hype.

But, there are some issues that XRP traders will have to face, and that is the post-bull bearish sentiment. The angle at which XRP has finally seen some growth is troubling. Any experienced crypto trader would immediately identify it as a negative trend in the making. But as long as the coin remains stable within the current resistance level, it’s good to go for the most of the month.

What to expect from XRP in February

Although it’s a stretch, it’s likely for XRP to overcome the resistance level sitting at $0.261 as the coin has managed to reach its current price of $0.253 within just a couple of hours. In fact, the trend continues as we speak, it’s not like it’s run out of gas all of a sudden.

All bulls need to look at is the resistance level. Hoping that XRP does not go below the support levels is what would slow down the hype and invite bears into the market once again.

As of right now, XRP is in a “Go! Go! Go!” stage targeting its best price in 2019 at $0.479. Should the coin reach this price, the hype is guaranteed to continue well into March and probably reach the $1.00 dream before Summer 2020.