Cryptocurrency analysis firm MakroVision stated in its latest chart update that XRP is still in a correction process and is retesting a critical support zone.
According to analysts at MakroVision, XRP is currently testing the support cluster at the 0.382 Fibonacci level and $2.21 region.
The analyst firm warned that if support breaks, the price could begin a deeper downward move towards the $1.96 level, which is being described as a “decision point.”
If support holds, the company stated that the possibility of a trend reversal from this level will strengthen.
According to the analyst firm, the resistance range of $2.48-$2.65 currently stands out as the area of highest liquidity. A clear break above this range could pave the way for a price reversal towards $3.06.
According to MakroVision’s assessment, XRP is currently at a critical juncture. If the support area between $2.16 and $1.96 isn’t held, there’s a risk of a retest of the October lows. However, a strong defense of this area could pave the way for a short-term recovery.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/xrp-at-a-critical-crossroads-analysts-reveal-the-level-that-must-be-protected-to-prevent-the-decline-from-deepening/
