In its new report, MakroVision analyzed the current market structure of XRP, highlighting the ongoing downtrend.
Bearish Structure of XRP
According to the report, XRP has been in a clearly defined bearish structure since reaching the $2.65 level. Price fluctuations are occurring within a narrow range, while the bearish structure (red trend line) remains in effect.
Key Support Levels
The report also emphasizes that the 0.5 Fibonacci level at $2.13 is being tested for the third time. If support at these levels is broken, XRP may drop to the $1.55–$1.40 range, indicating a potential price decline.
Prospects for XRP
The necessity of breaking above the $2.38 level to revive bullish momentum is underscored as a crucial point. Otherwise, the risk of price declines remains on the agenda.
MakroVision's analysis indicates a complex situation for XRP, where current trends and support levels play a key role in determining the future price dynamics.
