Crypto analysis company MakroVision published its latest technical analysis regarding Ripple (XRP). The analysis indicated that XRP has technically entered a stabilization process, while it was added that the overall trend of getting dumped is still ongoing.
According to MakroVision, the XRP price is at a critical stage. The price’s inability to permanently surpass the resistance zone in the range of 2.20 – 2.30 dollars currently limits bullish scenarios.
According to the analysis company:
- The range for XRP is 2.19 – 2.23 dollars, forming a strong resistance cluster along with the 0.382 Fibonacci level at (2.30 dollars).
- A breakout above this level could enable the price to gain new upward momentum towards the $2.50 level.
- The range of 1.90 – 2.00 dollars is emerging as a support zone for XRP in the short term. A sustained drop below this level could pull the price back down to the recent lows.
MakroVision states that XRP is currently at a critical decision point. It is expressed that a breakout above $2.30 could trigger a trend change, but a possible pullback below $1.90 would reinforce the downtrend.
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