XRP could attempt a rebound toward $1.65 in February if key support levels hold amid renewed optimism around Ripple’s latest institutional partnership.
The XRP Ledger’s native token, XRP, is intended for rapid and inexpensive cross-border payments, as well as other institutional finance-related use cases.
The coin continues to be one of the largest cryptocurrencies by market cap, and Ripple’s growing ecosystem continues to draw in speculators. At press time, the coin is trading at $1.38 with a decline of 1.52% over the past 24 hours.
XRP is trading below key moving averages based on the TradingView chart, suggesting that bearish momentum remains intact. A break below $1.65 turned it into resistance, and the price has currently settled close to $1.30.
Indicators from the MACD remain negative, and with the shrinking size of histogram bars, this indicates a slowdown in selling momentum. If bulls can defend $1.30 and volume increases, a rise back toward $1.65 would become a realistic possibility.
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According to the recent update on X by the user name Amonyx, Ripple’s announcement that it is partnering with Aviva Investors to tokenize funds on the XRP Ledger has reignited optimism within the network.
Narrative-based institutional adoption often serves as a medium-term catalyst for price movement in the marketplace. Especially so when the technical landscape is also presenting strong support levels.
To summarise, February could be a pivotal month for the coin. A rebound toward $1.65 would be solidified with a sustained hold above the $1.30 area, with the potential to extend to $1.85 if bullish momentum continues.
On the other hand, if sellers push XRP below support, it could result in the coin retracing back to the $1.20 zone before there is any quality chance of a recovery taking place.
The Ripple–Aviva development is providing improved institutional sentiment, and the technical indicators are showing signs of stabilising; therefore, the coming weeks should determine the short-term direction of it and will ultimately influence the direction of the coin for the months to come.
Also Read: Ripple Partners with Aviva Investors to Tokenize Funds on XRP Ledger
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