Analytics firm MakroVision has released an updated report on XRP's price action, identifying key resistance and support levels.
Overview of XRP's Current State
MakroVision notes that XRP has managed to break above falling trend lines but has yet to secure above $2.48. A decisive break beyond the 0.5 Fibonacci level at $2.58 could indicate a bullish reversal.
Key Price Levels for XRP
MakroVision lists the following key price levels for XRP: * $2.58 – $2.65: A critical zone; a breakout of this range could unlock further upside potential. * $2.80 (Golden Pocket): A strong resistance level that could lead to price rejection. * $2.19 – $2.23: A key support range; a pullback to this level would be considered normal. However, a breakout could weaken XRP further. * $2.03: A critical threshold; falling below this level would increase the risk of a deeper sell-off.
Forecasts and Conclusion
MakroVision emphasizes that while XRP is showing early signs of a bullish reversal, a clear break above $2.65 is needed to confirm the uptrend. At the time of writing, the XRP price is $2.38.
MakroVision analysts continue to monitor XRP's movements, stressing the importance of key levels in determining the cryptocurrency's future trend.
