XRP Price Prediction For February 22
The post XRP Price Prediction For February 22 appeared first on Coinpedia Fintech News
Ripple’s XRP is currently down by more than two percent and is trading slightly below the $2.60 level. The coin has erased all the gains made in the last seven days and is down by more than 8%. According to analysts, the immediate support zone might be used as a foundation for a rally if the price continues to hold strong.
There are two possible scenarios for XRP’s price movements: one where it could be nearing the end of a correction, or another where it might be starting a new phase of upward movement.
The First Scenario: A Correction Almost Done?
In this scenario, XRP might have completed its correction phase and is ready to begin moving higher. After a significant price drop on February 3, the market saw a rally and a subsequent pullback. If this correction has now finished, we could see XRP start moving upwards again, potentially pushing the price to new all-time highs.
If this scenario plays out, price could expect the price to rise towards $3.40, which was the previous high point. However, this scenario will be invalid if the price falls below the critical level of $2.47 or the support zone at $2.52.
The Second Scenario: A Deeper Pullback Ahead
In the second scenario, XRP might still be in the middle of a deeper correction, and the price could fall even further before resuming its upward trend. In this case, the price might find support at levels around $2.22, $2.10, or even $1.95.
If the price breaks below $2.52, this would confirm that the price is in the midst of a deeper pullback. If this happens, we could see the price target in the $2.26 to $2.31 range before any recovery begins.
