🔥Why will Ripple rise in February🔥

Is Ripple (XRP) forecasting 20% ​​gains in the month of February?

Despite the digital asset sector's slow start to the year, one token could be poised for a turnaround. Specifically, #ripple (XRP) sees potential gains of 20% on a bounce in February. In fact, the asset is showing a sign that its downtrend could be coming to an end.

The asset has responded well since falling to $0.50 in recent days. It is currently trading at $0.52 and is up more than 3% in the last 24 hours according to #CoinMarketCap . Subsequently, some market indicators point to a rebound phase that could arrive early next month.

Since the beginning of the new year, the digital asset market has not lived up to expectations. Despite the historic approval of #ETFs Spot #Bitcoin in the United States, the price of several tokens has not responded as expected. One of the main culprits for this poor performance has been Ripple's #XRP .

Amid its current slowdown, the market has tried to pull back when a bullish reversal could be in the works. Although there has been no sustained movement so far, next month could be a different story. In fact, Ripple (XRP) could face 20% gains as February approaches.

A month-long correction phase is approaching oversold levels. Specifically, IbraOM on TradingView noted that Ripple's Relative Strength Index (RSI) is below the 30 level. Subsequently, this data indicates that a price floor has been reached.

This fund creates the perfect time for experienced investors to purchase an asset like XRP. Therefore, an influx of funds triggers a rapid reversal of momentum. What makes this so likely for XRP is the upside potential it still has for 2024 and beyond.

We will closely follow the evolution of Ripple, since we have always followed it closely at CriptoGemas.

Source: WatcherGuru