Cryptocurrency analysis firm MakroVision has shared its latest update on the XRP chart. The company notes that the altcoin is recovering after strong selling pressure but is approaching a critical resistance zone.
According to MakroVision’s analysis, XRP ended the selling pressure in the “golden pocket” region located in the $1.40-$1.55 range and has recovered strongly from this region.
The analysis highlighted the $2.48-$2.65 range as a key short-term resistance zone. If this level is not broken, XRP could enter a short-term consolidation period followed by renewed upward momentum. On the downside, the $1.96 level stands out as the main support level for the overall trend.
According to MakroVision, if XRP breaks above $2.65 sustainably, there would be room for the price to rise to $3.06. However, analysts believe that movements above $3.06 would signal a clear reemergence of upward momentum in the market.
The analysis noted that XRP’s rapid recovery after touching the gold pocket indicates that there are still active buyers in this area. The company stated that the next step will depend on whether XRP can reclaim the $2.65 level.
*This is not investment advice.