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Will XRP Price Recover? Analysts Share Key Resistance and Support Levels
Crypto analysis company MakroVision has released the latest evaluation of XRP, identifying important resistance and support levels as the asset tries to regain upward momentum. After a strong sell-off, XRP quickly recovered and is now trading above $2.40. However, MakroVision warns that XRP needs to overcome key resistance areas for a sustainable reversal trend: 2.65 dollars: Strong resistance level needs to be reclaimed. Breaking above this level could be the first sign of price increase. 2.80 dollars: This is a significant breakthrough level, in line with the red trend line. A successful move above could pave the way for 3.06 dollars.
According to the analysis company, if XRP cannot break through the resistance level, it may retest lower support areas: 2.27 dollars (Fibonacci retracement level 0.5): The price has reacted to this level, maintaining the position as an important short-term support level. 2.10 dollars ( Fibonacci retracement level 0.618): If there is further decline, this area could serve as a strong support.