Cryptocurrency analysis firm MakroVision has shared the updated technical outlook for XRP.
The company noted that the asset has been in a correction process for months after a strong rally to above $3.66, with the price stuck in the $2.80-$3.38 range.
Analysts believe the key support level is $2.80. Breaking this level could lead to a pullback to $2.65 or even $2.48, as these areas are critical for reaching Fibonacci retracement targets.
On the resistance side, a sustained move above $3.06 could generate short-term momentum, potentially leading the price back toward the $3.38 range. However, only a sustained break above this level would confirm a new bull trend.
MakroVision stated that XRP is in the process of consolidation at high levels and that the current horizontal structure may herald a critical break that will determine the direction in the coming days.
At the time of writing, XRP is trading at $3.04.
*This is not investment advice.
