MakroVision Analysis: XRP Shows Strength but Faces Key Resistance Levels

Cryptocurrency analytics firm MakroVision has released its latest technical analysis on XRP, highlighting its recent strong performance while also identifying key resistance levels that must be broken for further bullish momentum.

According to MakroVision, XRP recently bounced off the $2.65 support level, aligning with the 0.5 Fibonacci retracement level. This recovery signals market strength, but the descending red trendline remains a significant barrier to sustained upward movement.

Analysts emphasize that a clear breakout from the short-term downtrend is essential to confirm the continuation of an uptrend. If XRP moves above the descending red trendline, it could trigger a strong bullish wave.

Key Levels to Watch

Major Resistance:

• $3.06 → A crucial level reinforced by the red trendline. Breaking above this could ignite fresh bullish momentum.
• $3.39 → The next major target. A breakout above this level could indicate a continuation of a strong rally.

Critical Support:

• $2.65 → A key support level. A confirmed breakdown below this could lead to increased selling pressure.

At the time of writing, XRP is trading at $2.85.

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