Recent technical analyses by MakroVision and other market sources reveal promising bullish indicators for XRP despite a prior downtrend. MakroVision identified a classic bull flag pattern which broke upward, with XRP surpassing a critical technical level of $2.23, signaling renewed strength and bullish control in the market. The price quickly recovered from the downtrend's lower boundary, and this breakout suggests potential for an uptrend renewal.
Key resistance and support levels have been highlighted: resistance at $2.48, breakout level at $2.65, and a support zone between $2.03 and $1.95. Maintaining key levels above $2.23 is essential for sustaining bullish momentum.
In a complementary report, technical indicators such as the RSI rising above 50 and the MACD moving into bullish territory support the emerging upward momentum. XRP has risen above the 100-hour moving average and is consolidating above the 23.6% Fibonacci retracement level. Price action shows a base formed around $2.05 with a rally testing resistance near $2.32.
Market data suggests investor accumulation, evidenced by reduced exchange outflows compared to May and a declining Network Value to Transactions ratio, indicating XRP may currently be undervalued relative to its utility. Additionally, liquidity clusters between $2.29 and $2.36 imply potential upward price movement towards $2.36 in the near term.
Bullish support levels around $2.25 and $2.27 align with significant Fibonacci retracement points, strengthening the medium-term bullish outlook if resistance at $2.32-$2.36 is broken. However, recent swing structures remain slightly bearish following rejection from higher resistance at $2.60, suggesting caution.