Cryptocurrency analytics firm Makrovision has been praising XRP’s recent performance, claiming that the coin has been following its bullish predictions from Dec. 30 to perfection. The price of XRP has broken out of the bull flag formation, rising over 40% and approaching important historical highs.
Macrovision’s analysis on Dec. 30 identified a bullish flag formation where XRP was in a consolidation phase, with the key support level at $1.96. The firm predicted a potential break above $2.65, signaling the start of a new rally.
As of Jan. 15, XRP not only broke through the critical resistance of $2.65, but also broke above $3, a level not seen in years. The rally is taking XRP closer to its January 2018 high of $3.35, a significant turning point in its price history.
Makrovision has identified the following critical areas for future XRP price movements:
Resistance: The $3.35 to $3.46 zone remains a strong barrier. A sustained break above this level could carry XRP to higher Fibonacci levels with targets at $3.88 and $4.42.
Support: The $2.65 level currently serves as a key support area. Holding this level could act as a launchpad for further upward momentum. However, a drop below $2.65 would prompt a reassessment of the bullish outlook.
Makrovision stated that he was optimistic about XRP’s prospects, saying, “XRP executed our bullish scenario perfectly and could continue a strong upward move above $3.35.”
*This is not investment advice.
