CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
coinpedia 2025-02-28 05:56:19

XRP Price Prediction For February 28

The post XRP Price Prediction For February 28 appeared first on Coinpedia Fintech News The ongoing trade and tariff wars, particularly with China, are causing bearish sentiment in the market. Both the stock market and crypto assets like Bitcoin are showing significant declines. This week, Bitcoin ETFs saw massive outflows. On Monday, over $500 million left, followed by a staggering $11 billion outflow on Tuesday, the largest in history. Wednesday saw another record with $754 million leaving the Bitcoin ETFs, particularly affecting the BlackRock Bitcoin ETF. In response to the outflows, BlackRock had to sell a record amount of Bitcoin on Wednesday to fulfill the withdrawal requests, marking the largest single-day Bitcoin sale for the ETF provider. As for Bitcoin price, the largest cryptocurrency has dipped below $80,000 and most altcoins have followed suit. XRP is down by more than 9% and is dangerously close to dropping below the $2 mark. Over the last 24 hours, XRP has confirmed a daily candle close below a crucial support zone between $2.25 and $2.30. According to analyst Josh of Crypto World, this area has previously shown multiple bounces, making it a key level for traders. With this break, the next significant support lies between $1.95 and $2. Next Major Support at $2 If the price drops below the $2 level, specifically under $1.95 or $1.90, it could signal more major losses for XRP. This would likely lead to much lower price levels in the near future. Current Bearish Trend XRP is currently in a bearish trend, marked by breaking below support levels, rejecting resistance, and forming lower highs and lows. This bearish price action suggests further downward movement in the short term. Bitcoin and Stock Market Impact As often seen with major altcoins, XRP’s price action tends to mirror Bitcoin and the broader stock market. With Bitcoin and stocks showing weakness, many altcoins, including XRP, are also experiencing downward pressure.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.