XRP Price Analysis for February 3

The market has not decided which way to move yet as the prices of some coins are falling while others are growing, according to CoinStats.

XRP/USD

XRP has gained a lot of value today, rising by 4%.

On the hourly chart, the rate of XRP has set a local resistance level at $0.5247. If the daily bar closes near it, one can expect a breakout to the $0.53 zone tomorrow.

On the bigger time frame, one should pay attention to the candle’s closure. If it happens near the current prices, the upward move may continue to the $0.54 zone shortly.

From the midterm point of view, the rate of XRP has made a false breakout of the previous bar low at $0.4959.

If it closes above the $0.51-$0.52 zone, traders may expect sideways trading between $0.52 and $0.54 until mid-February.

XRP is trading at $0.5225 at press time.

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