The cryptocurrency analysis company MakroVision has closely examined the price movements of XRP. 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.
Analysis shows that XRP has increased by more than 25% in value, bouncing off the Fibonacci retracement level of 0.382. Currently, XRP is trading just below the important resistance area of $2.65, according to Binance TR data.
According to the analysis company, the price action continues to trend upwards with consecutive lows and highs. This emphasizes that momentum has increased as it broke above $2.48, while the next target is $2.65 and the range referred to as the 'gold pocket' is $2.73–$2.81.
The $2.65 level has been tested. According to the analysis, the likelihood of a breakout may increase if this level is retested. Above this level, the gold pocket in the range of $2.73–$2.81 emerges as a strong resistance cluster.
According to the analysis company, the short-term support threshold is $2.48, which is the first area to watch for a potential pullback. In the medium term, maintaining the orange support area around $2.20 is very important for sustaining the bullish structure.
MakroVision emphasizes that XRP provides a strong technical outlook, but occasional pullbacks are healthy for the uptrend. The report states that maintaining the support area around $2.20 is crucial for the continuation of the long-term bullish scenario.
