Cryptocurrency analytics company MakroVision shared an analysis evaluating the current technical outlook for XRP. According to the analysis, although XRP is showing limited recovery signals in the short term, the overall technical structure still carries downside risks.
MacroVision’s assessment stated that the XRP price continues its technically weak trend and is trading again in the critical Fibonacci zone, also known as the “golden pocket.” Analysts noted that the downtrend is still valid, but the downward support zone is gradually weakening.
In the short term, XRP is reportedly trying to hold onto the green Fibonacci zone between $1.82 and $1.88. At these levels, limited buying interest has emerged as the momentum of the previous sell-off has diminished. If this zone holds, the price may enter a period of sideways consolidation or attempt a technical recovery.
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However, a cautious stance is maintained regarding the medium-term outlook. MacroVision argued that XRP remains below the main falling trendline and that previous attempts at recovery have been met with selling pressure. According to the analysis, it is difficult to speak of a significant improvement in the medium-term outlook without a sustained breakout above the $2.48 level.
Regarding resistance levels, it was noted that if the $1.96–$2.05 range is breached and this area is successfully retested, a move towards $2.20 could emerge in the short term. However, it was also noted that the main downtrend continues to act as a strong resistance even above these levels.
In a negative scenario, if XRP falls below its current support zone, the 0.786 Fibonacci retracement level, around $1.69, could become the new target.
MacroVision, in its overall assessment, stated that XRP is still in a clear downtrend, but there are initial signs that the downward pressure is beginning to weaken. According to analysts, the $1.82–$1.88 range is critical in the short term, while a true trend reversal requires stronger price momentum and the overcoming of key resistance clusters.
*This is not investment advice.
Continue Reading: XRP Price at Critical Turning Point: German Analysis Firm Comments
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Author: NixCoin
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