The analytics firm MakroVision evaluates the current position of Ripple (XRP) in the market, focusing on its recent trend changes and potential resistance levels.
Overview of Current Situation
Ripple (XRP) is currently in a critical testing phase after breaking out of a prolonged downtrend. Analysts assess whether this is a sign of sustainable growth or just a bull trap.
Critical Support and Resistance Levels
According to MakroVision, XRP is currently trading around $2.03, which corresponds to the level where the broken trend line is being retested. Critical levels are outlined as follows:
* $2.20 to $2.23: First strong resistance area. * $2.29: 0.382 Fibonacci retracement level. * $1.96: Last structural support level. A drop below this level could jeopardize the technical outlook.
Analysts' Prospects and Comments
Analysts note:
> "XRP is showing strength again. However, this time its durability is being tested. If it can hold above $2.03, it could be a strong bullish sign. Otherwise, a drop below this level could put selling pressure on investors."
The situation with Ripple (XRP) remains uncertain. In the coming days, it will become clear whether the asset can hold at the critical level or face a downturn.
