MakroVision has released a new report examining the current market status of XRP. According to the report, XRP remains in a bearish trend, with testing of critical support levels ongoing.
Overall Status of XRP
According to MakroVision’s report, XRP continues to trade within a clear bearish structure since reaching the $2.65 level. The report emphasizes that the current price dynamics are confined to a narrow range dominated by a bearish trend.
Key Support Levels
The report highlights several critical support levels: - The $2.35–$2.38 range is notable due to high liquidity and the last descending peak.\n- The $2.13 level (0.5 Fibonacci level) is being tested for the third time. \n- The $2.03–$1.95 range intersects horizontal support with the area known as the 'golden pocket'. Should these support levels break, XRP's price may drop to the $1.55–$1.40 range.
Future Predictions
The report indicates that if XRP breaks above the $2.38 level, it could revive bullish momentum. Otherwise, the risk of a drop to lower levels remains high.
MakroVision's report highlights that XRP continues to face bearish trends and the testing of critical support levels. Investors should be cautious about the current market situation.
