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Bitcoin & Ripple Price Prediction | 1 February 2022 | BTC & XRP Market Update

Bitcoin & Ripple Price Prediction | 1 February 2022 | BTC & XRP Market Update

Dhananjay Lochave

Marketing Manager - Branding

Table of Contents

The Bitcoin and Ripple Price Prediction 2022 has grown to be a significant asset class (and has provided many investors with substantial financial gains); by last fall, the aggregate market value of cryptos had reached about $3 trillion.

Let’s Check the Technical Movement of Bitcoin and Ripple:

Bitcoin Price Prediction 2022

TC/USD has retested the $38,000 and $39,000 resistance levels as Bitcoin battles to stay below the $39k high. Bitcoin has narrowed its range below the resistance zones. The price action is produced in the context of a positive expectation. However, if the bullish scenario is proven to be false, it will have a negative impact for Bitcoin. As of press time, the price of BTC is $38,565 USD.

Bitcoin bulls have continued to test the $38,000-$39,000 resistance levels. BTC price is now trading in a narrow range below the resistance zones after a retest on January 31. The price of the cryptocurrency is between $37,900 and $38,800.

Consolidation below a resistance level, it is said, improves the possibilities of a future breakthrough.

Bitcoin & Ripple Price Prediction | 1 February 2022 | BTC & XRP Market Update image | BuyUcoin
@priya

Nonetheless, if a breakout occurs, BTC’s price will rise to a high of $44,000. Similarly, if there is a breakdown, Bitcoin will plummet to a low of $33,600. However, if the bearish momentum breaks below $33,600, the cryptocurrency may revisit the psychological price level of $30,000.

The cryptocurrency is growing while remaining inside a restricted range. It has broken through the $38,000 support but is still trading below the $39,000 high.

On the plus side, if BTC’s price recovers above the $38,000 level, it will have ample grounds to recoup.

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Ripple Price Prediction 2022

Despite a brief rebound, XRP has struggled to go higher and has returned below the critical support level. Key support levels are $0.58 and $0.50. While the resistance levels for XRP are $0.65 and $0.70.

After breaking down from its consolidation phase over the last few days, XRP is once again confronted with the important support level of $0.58.

This dip was followed by a decline in volume; nonetheless, any weakness here could lead to another breakdown. The resistance is at $0.65 and is unlikely to be tested in the next days.

Bitcoin & Ripple Price Prediction | 1 February 2022 | BTC & XRP Market Update image 1 | BuyUcoin
@priya

The daily RSI dipped into the oversold zone as a result of the latest price decline, indicating weakness in the price action.

The daily MACD has become bearish, and the moving averages and histogram have expanded. This suggests a bearish price movement.

XRP went back to the important support level of $0.58 after some hesitation and consolidation in a narrow range. If buyers are unable to keep XRP above this crucial level, XRP will most likely fall to $0.50, where buyers may show greater strength. At the time of writing, the momentum is in favour of sellers.

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