XRP/USD is trading at 2.2272, continuing its movement within a correction and bearish channel. Moving averages indicate a short-term bearish trend for XRP. Prices have broken below the area between the signal lines, suggesting seller pressure and the potential for further decline from current levels. Currently, a growth attempt and a test of the resistance level near the 2.4000 area are expected. Then, a bounce down and a continuation of the cryptocurrency’s decline to an area below 1.9500.
XRP Forecast for February 28, 2025
A test of the resistance line on the Relative Strength Index will support the decline in XRP/USD quotes. A second additional signal in favor of the asset’s decline will be a rebound from the upper boundary of the bearish channel. The bearish scenario will be canceled by a strong rise and a close above the 2.6500 level. This will indicate a breakout of the resistance area and a continuation of the XRP/USD price increase to an area above 2.8560. Confirmation of a decline in the digital currency will be a breakdown of the support area and a close below 2.1055.
XRP Forecast for February 28, 2025 suggests an attempt to test the resistance level near 2.4000. From there, a continuation of the decline with a potential target at 1.9500. An additional signal in favor of a decline will be a test of the resistance line on the RSI indicator. The bearish scenario will be canceled by a strong rise and a breakout of 2.6500. In this case, a continued rise in the digital currency with a target above 2.8560 is expected.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
