What Will Happen to XRP in the Coming Days? Are We in a Bull Trap, or Is an Upsurge Coming?

Crypto analysis company MakroVision evaluated the current chart appearance of Ripple’s (XRP). The company stated that XRP is at a critical test stage after breaking the downtrend it has been in for months.

Whether this situation is a precursor to a sustainable rise or merely a bull trap will become clear in the coming days.

According to the analysis company, XRP has succeeded in breaking the long-standing red downtrend line upwards. In the past, similar breakouts had resulted in rapid pullbacks; however, this time the pullback is softer and progressing in a corrective structure. Currently, the price is around 2.03 dollars, which is at the region where the broken trend line is being retested. This level is critical in terms of direction determination.

According to MakroVision, the critical resistance and support levels are as follows:

• Between 2.20 – 2.23 dollars: The first strong resistance band ahead.
• The $2.29 level is drawing attention as the 0.382 Fibonacci retracement level.

In the bull scenario, the next targets are standing out at 2.48 dollars and then at 2.65 dollars. The area above this level could open up to the “golden pocket” region.

• $2.03 level: The broken trend line needs to act as a retest zone.
• $1.96 level: Last structural support. Falling below this level could jeopardize the positive technical outlook.

Analysts made the following statements as their final comments:

“XRP is showing strength again. However, this time its durability is being tested. If it holds above the $2.03 level, it could be a strong bullish sign. Otherwise, a drop below this level could create selling pressure on investors.”