Analytical firm MakroVision has released an updated report on cryptocurrency XRP, noting its current position at a critical support level. This may determine short-term price dynamics.
Current Market Situation of XRP
Currently, XRP is at a critical support level which, according to MakroVision, will determine short-term price movements. The overall market structure remains bearish, and XRP is forming a series of lower highs and lower lows. The recent break below $2.03 has brought XRP into the so-called 'Golden Pocket'—a Fibonacci retracement zone between 0.618 and 0.665, roughly $1.95 to $2.03.
Two Possible Development Scenarios
MakroVision outlined two potential scenarios for XRP's movement. The first scenario indicates that if buyers step in and defend current levels, XRP could bounce back above $2.13. A successful recovery may target the $2.23 liquidity zone next, followed by a move toward $2.35, marking a series of recent local highs. The second scenario suggests that if the Golden Pocket fails, XRP risks entering a deeper correction phase with limited nearby support.
Conclusion
The analysis from MakroVision indicates that the current state of XRP requires close monitoring, as support may play a decisive role in future price movements. Investor and trader attention remains high in the market.
The analysis of the current situation with XRP highlights the importance of the support area that may define short-term asset prospects. Market attention remains heightened.
