Cryptocurrency analytics firm MakroVision has released its latest assessment of XRP, identifying key resistance and support levels as the asset attempts to regain bullish momentum.
After a sharp sell-off, XRP has recovered rapidly and is currently trading just above $2.40. However, MakroVision warns that XRP needs to break through critical resistance zones for the trend to reverse sustainably:
- $2.65: A strong resistance level that needs to be reclaimed. A break above this level could be the first bullish signal.
- $2.80: This is a significant breakout level, in line with the red trendline. A successful move above could open the way to $3.06.
According to the analytics firm, if XRP fails to break the resistance, it could retest lower support zones:
- $2.27 (0.5 Fibonacci retracement): The price has already reacted to this level, which holds the position as a key near-term support.
- $2.10 (0.618 Fibonacci retracement): If there are further declines, this area could act as a strong base.
*This is not investment advice.
