XRP Price Analysis for February 4

The weekend has started positively for bulls, according to CoinMarketCap’s ranking.

XRP/USD

The rate of XRP has risen by 0.42% over the last 24 hours.

On the local time frame, the rate has broken the resistance at $0.4221 and is trying to fix above it. If that happens, the impulse may continue to the $0.416 mark shortly.

The situation is not so clear on the daily chart as the price is stuck in the middle of the channel. Volatility has declined, which means that XRP has not decided which way to move.

At the moment, one should pay attention to the interim mark at $0.42. If bulls can fix the price above it, there is a high chance to reach the resistance level at $0.4328 shortly.

XRP is trading sideways on the weekly time frame against the low volume. Respectively, traders might see the altcoin in the wide range of $0.40-$0.42 by the end of the month.

XRP is trading at $0.4122 at press time.

Source