XRP Surges Above $2.70, Bulls Eye All-Time High

XRP Price Prediction For February 20

Ripple's XRP has recently entered the green zone and is trading above the $2.70 level, following a 6% increase in the last 24 hours. Analysts suggest that XRP's price on the daily time frame is currently retesting a significant resistance zone between $2.65 and $2.80. This area has previously caused multiple rejections, making it a crucial level to monitor in the coming days. If the resistance at $2.80 is surpassed and flipped into support, the next major resistance point would be around $3.

A potential bullish pattern is in play, with a breakout above $2.80 indicating the formation of a bullish "cup and handle" pattern. However, this pattern is not yet confirmed, and a daily close above $2.80 is required for validation. If the breakout happens, the technical price target would be close to the all-time high of $3.37, just under $3.40.

In the short term, XRP's price is likely to continue facing resistance around the $2.65-$2.80 range. Another rejection from this level is possible, making confirmation of a breakout essential before assuming bullish movement. On the support side, XRP has a small level of support near $2.50. Below that, the next significant support zone is between $2.25 and $2.30.

A short-term bullish divergence has been confirmed, invalidating the previous bearish divergence that played out over the past week. The price had previously formed lower lows, while the RSI showed higher lows, indicating potential for a bullish relief rally. This relief is currently playing out as expected. This divergence suggests more upward movement in the short term or at least sideways price action with resistance near $2.80.