February begins with challenges for XRP and Ethereum, while Cardano could be poised for an unexpected surge. XRP has dropped below a crucial technical level, potentially signaling a -77% decline. Meanwhile, Ethereum experienced a significant sell-off with a $242 million deposit from a long-term whale, leading its price to fall below $2,420.
In contrast, ADA is entering what has historically been its most favorable month, yet it remains under the radar.
TL;DR
- XRP has fallen below the monthly mid-Bollinger band, forecasting a potential drop to $0.37.
- ETH has dropped 8.5% after a huge inflow of 100,000 ETH valued at $242.7 million from a historic wallet into Binance.
- ADA enters February with a strong average return of +24.4% historically.
XRP Faces a -77% Scenario Triggered by Bollinger Bands
XRP’s monthly chart has sent up a warning signal, closing below the mid-Bollinger Band for the first time in over a year. This level often delineates strength from weakness.
Given this, the prevailing scenario suggests a potential drop to $0.37, translating to a -77% decrease from the current $1.64. The key level to monitor now is the lower Bollinger Band, currently at $0.374. With bullish momentum from 2024-2025 fading and critical support missing at $1.93, the outlook has become bearish.
Whale Activity Leads to Ethereum’s Downturn
A prominent wallet from the early Bitcoin mining era recently sold 99,999 ETH, worth around $242.7 million, on Binance. This wallet, inactive for years, has now resurfaced with this substantial transaction.
As a result, Ethereum’s price plummeted 8.5% within 24 hours, currently trading at approximately $2,411. The market is experiencing downward pressure from ETF withdrawals and other macroeconomic factors.
Cardano Could Thrive Despite Market Conditions
Amid a challenging crypto landscape, Cardano might be preparing for a bullish move. Historically, February has proven to be one of ADA’s best months, boasting an average return of +24.4%. In previous years, it even achieved a massive 277.9% gain.
Despite entering February with only a slight +0.12% increase, past trends suggest that ADA may follow Bitcoin’s trajectory. If Bitcoin remains steady, ADA could see a significant rebound later in the month.
Market Overview: Key Levels for XRP, BTC, ETH, and ADA
The current market sentiment remains cautious, focusing on XRP’s potential recovery, the impact of Ethereum’s whale dump, and whether Cardano will capitalize on February’s trends.
Market conditions could change if ETF flows resume or macroeconomic factors improve, so expect some volatility. Here are the key levels to watch:
- Bitcoin (BTC): Currently at $78,777, with resistance at $81,300 and support at $73,786.
- Ethereum (ETH): Trading at $2,411.69, with resistance near $2,700.
- XRP (XRP): At $1.64, having failed to reclaim $1.93, with downward support now at $1.45.
- Cardano (ADA): Strong February trends indicate potential for +24.4% returns, with resistance at $0.40.
