XRP Price Analysis: Key Levels to Watch as Bullish Momentum Builds

Cryptocurrency analytics firm Makrovision has spotlighted XRP’s recent surge, noting that the coin’s price movement aligns closely with their bullish projections from late December. Since breaking out of a consolidation phase, XRP has soared over 40%, nearing critical historical price levels.

Makrovision’s December 30 analysis highlighted a bullish flag pattern, with XRP consolidating around a support level of $1.96. The firm anticipated a breakout above $2.65, signaling the beginning of a significant rally.

True to their forecast, XRP shattered the $2.65 resistance on January 15 and climbed above $3 – a level it hasn’t reached in years. This puts XRP within striking distance of its January 2018 high of $3.35, a landmark in its price history.

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Looking ahead, Makrovision has identified key zones to watch. On the upside, the $3.35 to $3.46 range presents a major resistance level. A decisive move beyond this barrier could open the door to Fibonacci targets at $3.88 and $4.42. On the downside, $2.65 now serves as a critical support level. Holding this area could sustain the bullish momentum, but a drop below it would likely prompt a reassessment of the trend.

Commenting on XRP’s performance, Makrovision expressed confidence in its trajectory: “XRP has perfectly followed our bullish scenario, and we see the potential for it to continue climbing above $3.35.”