What is the Latest Outlook for XRP? Analyst Reveals The Level To Be Breached For Rally

Cryptocurrency analytics firm MakroVision has provided an updated technical outlook on XRP, highlighting key resistance and support levels following the recent price action.

XRP briefly broke above the red trendline to reach a local high around $3. However, the bullish momentum quickly faded, leading to a sharp sell-off. With this rejection, analysts are now questioning whether the recovery phase is over or if another correction is imminent.

Price action is pointing to a potential (A)-(B)-(C) correction pattern, which signals a decision point for XRP’s next trend.

According to the analyst firm, a sustainable break above $3.06 is crucial for a continued bullish structure. MakroVision has identified the critical price levels as follows:

Sponsored
• $2.19 – $2.23: XRP must maintain this range to maintain bullish momentum.
• $2.03: A retest of this level would lean towards a bearish scenario.
• $1.40 – $1.55: If the corrective structure continues and XRP breaks below $2, the next golden pocket support area could be tested.
• $2.65: A recovery above this resistance level is needed to regain bullish momentum.

At the time of writing, the XRP price is trading at $2.32.

Related News: White House Official X Account Shares Unexpected Bitcoin Post

MacroVision’s analysis shows that XRP remains under pressure following its failed breakout. The price needs to break above $2.65 in the short term for the bullish case to remain intact.

*This is not investment advice.

Continue Reading: What is the Latest Outlook for XRP? Analyst Reveals The Level To Be Breached For Rally