Crypto analysis firm MakroVision published an updated assessment regarding the price movement of XRP and revealed the key resistance and support levels that could determine its next trend.
MakroVision states that XRP has managed to break above the descending trend lines but has not yet established a solid hold above $2.48. A decisive break beyond the 0.5 Fibonacci level at $2.58 could indicate a bullish trend.
The analysis company listed the key price levels to watch for XRP as follows:
- 2.58 – 2.65 dollars: A critical area; breaking this range could unlock further upward potential.
- 2.80 dollars (Gold Pocket): A strong resistance level that could lead to a price rejection.
- 2.19 – 2.23 dollars: An important support range; a pullback to this level can be considered normal. However, a breakout could weaken XRP further.
- 2.03 dollars: A critical threshold; falling below this level could increase the risk of deeper selling.
MakroVision states that despite XRP showing early signs of a turn towards an uptrend, a clear breakout above $2.65 is needed to confirm the bullish trend.
At the time this article is written, the XRP price is trading at $2.38.
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