Cryptocurrency analytics firm MakroVision has released its latest update on XRP, revealing signs of a potential breakout. After a strong rally, XRP has broken through key resistance levels and is now testing a critical downtrend line.
According to MakroVision, XRP recently broke through multiple resistance levels and is currently positioned at the red downtrend line, a key level to confirm a direct bullish reversal.
According to analysts, the key price levels on the XRP chart are:
$2.80: A major resistance cluster that lines up with the trend line and liquidity zone. A break above this level could trigger strong bullish momentum.
$3.06: A key price level tied to previous lower highs. Clearing this area would confirm a bullish market structure.
$2.65: First strong support in case of a pullback.
$2.48: If XRP fails the trendline, this area could act as the next major support for stabilization.
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At the time of writing, the XRP price is trading at $2.75.
*This is not investment advice.