Cryptocurrency analysis firm MakroVision has shared an impressive assessment of XRP's recent price movements, highlighting milestones and support levels.
New Highs and Correction
XRP reached a new all-time high of $3.65, but subsequently experienced a 20% pullback. Analysts noted that this correction was still occurring on technically sound ground.
Key Resistance and Support Levels
According to MakroVision, XRP is encountering significant resistance at $3.06. The pullback aligns with Fibonacci retracement levels, with key support currently at the area between $2.99 and $2.79.
Warnings from MakroVision
The report warned that a break below the $2.65 level could significantly weaken XRP's bullish momentum. This level, identified as the 'orange zone,' is specifically for investors to watch closely.
MakroVision's analysis of XRP prices underscores the significance of the current resistance and support levels, which are important for predicting future movements.
