Cryptocurrency analysis firm MakroVision has taken a closer look at XRP price movements. According to the technical analysis report published by the company, XRP has gained significant upward momentum in recent days and has once again attracted the attention of investors.
The analysis states that XRP has gained over 25% in value, bouncing upwards from the 0.382 Fibonacci retracement level. Currently, the XRP price is trading just below the important resistance zone at $2.65, according to Binance TR data.
According to the analyst firm, the price action continues to trend upwards with successive higher lows and highs. It is emphasized that momentum has increased with the break of the $2.48 level, while the next targets are $2.65 and the so-called “golden pocket” range of $2.73–2.81.
The $2.65 level has already been tested. According to the analysis, the probability of a breakout may increase if this level is tested again.
Above this level, the golden pocket in the $2.73–$2.81 range stands out as a strong resistance cluster.
According to the analyst firm, near-term support is at $2.48, the first area to watch for potential pullbacks. In the medium term, maintaining the orange support zone around $2.20 is critical to maintaining the bullish structure.
MakroVision emphasizes that XRP offers a strong technical outlook, but that occasional pullbacks are healthy for the uptrend. The report states that maintaining the support area around $2.20 is decisive for the continuation of the long-term bull scenario.
*This is not investment advice.
