Matspe, a cryptocurrency analyst, highlighted the best chart for market participants looking for the clearest picture Macro image of XRP. He also provided a bullish outlook for the altcoin, noting that major resistance is now turning into support.
This chart paints the best macro picture for XRP
in Share XMatspe urged market participants to zoom out to the 2-month chart and add the 20SMA if they want to see the clear and well-defined macro trend for XRP. He pointed out that history bears this out XRP has bullish momentum And room to rise when it is above the 20SMA. On the other hand, the altcoin could be preparing for a potentially long and painful consolidation process before the next big phase, as long as it remains below this level.
The analyst noted that XRP has been trading on this key moving average since November 2024 and that what was previously resistance is now turning into strong support. He explained that this is the reason why the altcoin’s bullish trend continues despite the current price action. Matspe added that support is still there Overall trend Intact.
Cryptocurrency analyst Chart Nerd also provided a bullish forecast for XRP. in Share XHe stated that after months of constant pressure, multiple time frames indicate Upward relief On the XRP table. He highlighted $1.54 and $1.87 as levels the altcoin could recover during this relief rally. He also noted that the $1,560 level represents the immediate resistance that XRP may face in this rally to the upside. It’s worth noting that XRP is already seeing a comfortable rally, bouncing alongside Bitcoin and the broader cryptocurrency market.
XRP remains trapped below a key resistance level
in Share XCryptocurrency analyst CasiTrades warned that XRP remains trapped below resistance, noting that the altcoin has been trading at less than $1.6 for over 68 days. In line with this, it was announced that nothing has changed Macro plan for XRP. It is worth noting that the analyst is currently bearish and expects further collapses for the altcoin.
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CasiTrades reported that at the moment, there is a wait for XRP to do one of two things. The first could be a move down to the overall support levels at $1.09 and $0.87. Meanwhile, the second could be a break and hold above the $1.65 level, which would flip the market higher. Even then, she noted Current price action It is just a continuous cutoff, as XRP is stuck in a narrow range between $1.28 and $1.39. The analyst added that she expects to continue towards lower support levels once XRP breaks below $1.28.
At the time of writing, the price of XRP is trading at around $1.43, up more than 2% over the past 24 hours, according to Data From Coin Market Cap.
Featured image from Sketchfab, chart from Tradingview.com
