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- Welcome Kevin_Lee to the Gate Square! 🎉
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What Will Happen to XRP Amid Recent Plummets? Here Are Two Possible Scenarios According to Analysts
Crypto analysis company MakroVision has published its latest technical assessment regarding XRP. The company stated that XRP is currently testing a vital support zone and that this level will be decisive for the direction of the price.
According to MakroVision, the price structure of XRP is still in a downward trend. The analysis indicates that the validity of the downtrend shown by the red line is maintained, while the recent price movement has reinforced this trend with lower highs and lows. In particular, the break of the support line at the 2.03 dollar level has brought XRP to a critical threshold.
XRP is currently in the "Golden Pocket" zone, which is considered significant in technical analysis, within the range of ( Fibonacci 0.618–0.665, ). This zone covers the $1.95–$2.03 band. According to the analysis, although this area is trying to balance the price for now, no strong buying reaction has been observed yet. It is stated that if this level is breached, weaker supports will come into play, which could mean a bearish breakout.
MakroVision summarized two possible scenarios for XRP as follows:
If the selling pressure continues: It was noted that XRP could pull back to the $1.55–$1.40 band, and in this case, the broad bullish formation could be disrupted.
*This is not investment advice.
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