Analyst: We Could See $1.70–$1.80 Today or Tomorrow If This Happens

XRP has shown notable strength over the past 24 hours, reaching $1.66, its highest level since February 2. This move followed Goldman Sachs’ disclosure of a $2.3 billion crypto investment, which included $153 million in XRP. The surge reflects renewed institutional interest and sets the stage for potential further gains.

Excitement for XRP’s Short-term Trajectory

Following the spike to $1.66, XRP experienced a correction and currently trades at $1.47. The pullback appears temporary. Crypto analyst Quantum Fox (@QantaFox) suggested this dip is brief and anticipates a recovery to $1.7-$1.8, possibly occurring today or tomorrow. This range represents XRP’s highest levels since late January.

The attached chart supports this outlook. The yellow and blue candlesticks indicate a strong upward momentum followed by a minor retracement. A projected red line shows the expected recovery trajectory. The chart highlights a potential continuation of the bullish trend if XRP maintains support around the $1.47 level.

Potential Institutional Influence

Goldman Sachs’ recent crypto allocation has likely contributed to XRP’s recent rally. The $153 million portion allocated to XRP signals confidence in the asset’s liquidity and utility.

While some detractors disliked the move, large-scale institutional moves like this often drive price action, especially when combined with technical strength in the market. XRP’s reaction to the announcement demonstrates the influence of significant investments on market confidence and short-term price performance.

Outlook for February

Technically, XRP shows clear support around $1.47 after the recent pullback. The previous high at $1.66 now acts as a resistance level. If XRP surpasses this resistance, momentum could push it toward $1.7-$1.8. The chart’s structure suggests that the dip is a standard retracement within an ongoing uptrend rather than a reversal.

The chart also highlights a potential pathway for continued gains beyond the immediate target range. A successful break past $1.8 could open the door for higher levels later in February. The projected trajectory in the chart aligns with Quantum Fox’s forecast and reflects a plausible scenario based on recent momentum and institutional activity.

Traders should monitor the $1.47 support level closely. Maintaining this support is crucial for the anticipated upward trajectory. A confirmed recovery above $1.66 will likely trigger additional buying pressure, increasing the probability of XRP achieving the projected $1.7-$1.8 range.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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