XRP Technical Outlook by MakroVision

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, signaling 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:

• $2.19 – $2.23: XRP must maintain this range to retain 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, this area could be tested as the next golden pocket support.
• $2.65: A recovery above this resistance level is needed to regain bullish momentum.

XRP technical analysis chart shared by MakroVision.

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

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

This is not investment advice.