XRP Price Prediction for February 20: Will XRP Break Resistance at $2.80?

XRP Price Prediction for February 20:
Will XRP Break Resistance at $2.80?

Key Highlights:

• XRP Breakout Watch: Trading above $2.70, XRP is testing the critical $2.80 resistance level. A confirmed breakout could push the price toward $3.40.
• Bullish Momentum Building: A short-term bullish divergence suggests potential upward movement. The key level to watch is $2.80.

XRP Price Analysis:
Eyeing a Strong Breakout

Ripple’s native token, XRP, is showing strong bullish momentum, trading above $2.70 after gaining 6% in the last 24 hours. Analysts point out that XRP is currently testing a major resistance zone between $2.65 and $2.80. This level has historically led to multiple rejections, making it a crucial barrier to monitor in the coming trading sessions.

A successful breakout above $2.80 and its conversion into a support zone could set the stage for further gains, with the next major resistance level near $3.00.

Potential Bullish Formation:
Cup and Handle?

If XRP breaks past $2.80, a bullish “cup and handle” pattern could emerge. However, this setup is not yet confirmed. For validation, XRP must achieve a daily close above $2.80. Should the pattern play out, the technical price target would approach XRP’s all-time high of $3.37, potentially reaching $3.40.

Short-Term Outlook:
Key Levels to Watch

While XRP attempts a breakout, resistance around $2.65–$2.80 remains a hurdle. If the price fails to surpass this range, another rejection is possible.

Support levels to monitor:

• Minor support: Around $2.50
• Major support: Between $2.25 and $2.30

A drop below these levels could invalidate the bullish outlook, leading to a potential retracement.

Bullish Divergence:
Signs of Recovery?

A short-term bullish divergence has emerged, signaling potential upward movement. This development invalidates last week’s bearish divergence and suggests a relief rally or sideways consolidation near $2.80.

The Relative Strength Index (RSI) has formed higher lows while XRP previously saw lower lows. This pattern typically indicates growing bullish momentum, increasing the likelihood of XRP pushing beyond $2.80.

Conclusion:
Can

Sustain Its Uptrend?

XRP is at a pivotal moment, with $2.80 acting as the make-or-break level. A successful breakout could fuel further gains toward $3.40, while failure to clear resistance may lead to another rejection and potential retracement. Traders should keep a close eye on volume and confirmation signals before making their next move.