XRP at a Critical Crossroads: Analysts Reveal the Level That Must Be Protected to Prevent the Decline from Deepening
Cryptocurrency analysis firm MakroVision reports that XRP is in a correction process and testing critical support at the 0.382 Fibonacci level ($2.21 region). If support breaks, XRP may drop to $1.96, described as a 'decision point.' Holding the support could strengthen the trend reversal possibility. The resistance range of $2.48-$2.65 is noted as the highest liquidity area, and breaking above it may lead to $3.06. XRP is at a critical juncture, as failure to hold the $2.16-$1.96 support range risks a retest of October lows, while defense of the area could enable short-term recovery.
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XRP's Current Correction Process
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 the $2.21 region.
Potential Downward Movement
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'.
Possibility of Trend Reversal
If the support holds, MakroVision stated that the possibility of a trend reversal from this level will strengthen. Additionally, the resistance range of $2.48-$2.65 is noted as the area of highest liquidity. A clear break above this range could pave the way for a price reversal toward $3.06.
XRP at a Critical Juncture
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 is 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.
Disclaimer
This is not investment advice.