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Cryptocurrency analytics firm MakroVision has released an updated assessment of $XRP’s price action, outlining key resistance and support levels that could determine where it will trend next.
MakroVision notes that $XRP has managed to break above the falling trend lines but has yet to gain a solid foothold above $2.48. A decisive break beyond the 0.5 Fibonacci level at $2.58 could signal a bullish reversal.
The analytics firm listed the key price levels to watch for $XRP as follows:
- $2.58 – $2.65: A critical zone; a breakout of this range could unlock further upside potential.
- $2.80 (Golden Pocket): A strong resistance level that could lead to price rejection.
- $2.19 – $2.23: A key support range; a pullback to this level would be considered normal. However, a breakout could weaken $XRP further.
- $2.03: A critical threshold; falling below this level would increase the risk of a deeper sell-off.
MakroVision notes that although $XRP is showing early signs of a bullish reversal, a clear break above $2.65 is needed to confirm the uptrend.
At the time of writing, the $XRP price is trading at $2.38.
*This is not investment advice.