Cryptocurrency analysis firm MakroVision has shared a striking assessment of XRP's recent price movements.
The report noted that XRP reached a new all-time high of $3.65, followed by a 20% pullback. Analysts noted that this correction was still occurring on technically sound ground.
According to MakroVision, XRP is facing significant resistance at $3.06. The pullback is in line with Fibonacci retracement levels, with the area between $2.99 (0.382) and $2.79 (0.5) currently serving as key short-term support.
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,” was specifically for investors to watch closely.
*This is not investment advice.