The analytical company of cryptocurrencies Makrovision has provided the updated technical perspective of the XRP, highlighting the levels of key resistance and support after a recent price action.
XRP briefly broke over the red line of the trend to reach the local maximum of about $ 3. Nevertheless, the bull impulse quickly disappeared, which led to a sharp sale. With this refusal, analysts are currently wondering if the recovery stage is completed or something seems to be inevitable.
The price action indicates the potential (a)-(b)-(c) a correction template that signals the point of the decision on the next XRP trend.
According to an analytical company, a stable break above $ 3.06 is crucial for a constant bull structure. Makrovision has determined critical price levels as follows:
- $ 2.19 – $ 2.23: XRP must maintain this range to maintain a bull impulse.
- $ 2.03: a repeated test of this level would be inclined to a bear scenario.
- $ 1.40 – 1.55 US dollars: if the corrective structure continues, and the XRP breaks below $ 2, you can check the next gold zone of support for your pocket.
- $ 2.65: Restoring above this resistance level is necessary to restore bull impulse.
At the time of writing, the price of XRP is traded at $ 2.32.
Macrovision analysis shows that XRP remains under pressure after its unsuccessful breakthrough. The price should break more than $ 2.65 in the short term, so that the bull case remains untouched.
*This is not an investment council.
