How high is the price of Ripple XRP in February?

Ripple PRICE had a strong performance in January, surpassing popular cryptocurrencies like Bitcoin and Ethereum.

Tamulization (XrpIt rose by more than 50 %, while bitcoin (BTC(12 % jumped, and ethereum (Eth) Decreased by 6 %. It was also better than other large metal currencies such as Bolkadot, Solana, and Pens.

Many stimuli led XRP increase in January. US dollar ripples (rlusdStablecoin turned from the top Stablecoins Like Paypal usd and Ethena USDE in size. Its daily size on January 30 was $ 62 million, which is above $ 29 million in Pyusd and USDD $ 3.9 million.

The price of XRP also increased after the resignation of Gary Gensler, which looked a new organizational environment. The Supreme Education Council, under Mark Uida and Paul Atkins, will be more friendly to the encryption industry.

like Crypto.News mentionedThe agency plans to stop some legal procedures between encryption companies. Ripple will benefit because its legal issues with the agency may end this year.

Moreover, the difficulties that SEC will agree to Spot XRP ETF has risen on polymarket. As a result, JPMorgan analysts expect this box to have more than $ 8 billion in flows this year. In contrast, Ethereum ETFS has had less than $ 3 billion in flows since its launch.

The XRP price increased after receiving Ripple Labs Capital license In New York. This means that the company can now work with other large companies in the state and also provide more services.

The LEDGER XRP index also grows with some environmental symbols such as Sologenic, Crypto Trading Fund, XRP Army and Phnix Get the market share. The cost of Solgenic market value is $ 174 million, while the overall value that has been secured is hit 80 million dollars Total closed value.

Technical analysis of XRP price

Technologies indicate that the price of XRP will have a strong upward outbreak in February. The daily graph shows that the currency formed a bullish shepherd pattern with a long vertical line and a similar triangle style. It achieved an upward outbreak on its upper side at $ 2.90 on January 15.

Ripple formed another style of smaller upholshesia, where two lines are approaching the triangle. Therefore, it is likely to have a strong outbreak in February, where the next possible goal is the psychological level at $ 5, which is about 65 % higher than the current level.