Altcoin XRP Continues Defending the 0.5 Macro Support, Analyst Prepares for Calculated Breakouts

Altcoin XRP continues defending the 0.5 macro support

Reputed analyst prepares for possible calculated breakouts

Ripple’s XRP now aims to move towards higher support targets if bull trajectory holds.

Ripple’s XRP remains one of the most bullish altcoins in the crypto space, and despite sentiments being bullish or bearish, the price of XRP continues to hold at critical price levels. At the moment, altcoin XRP continues defending the 0.5 macro support, and a reputed crypto analyst is preparing for a calculated breakout. Will this popular altcoin finally go on to set a new ATH this bull cycle?

Altcoin XRP Continues Defending the 0.5 Macro Support

According to CoinMarketCap analytics, the price of XRP is currently trading at the $2,02 price range, but still shows that it is trading in a bullish green state over the last 24 hours. The price of XRP has been bouncing between $1.99 and $2.05 in the last 24 hours. It is also currently boasting a total market cap of $122,406,081,676.96 and a 24-hour trading volume of $2,873,561,688.13

XRP won its long-fought battle with the SEC this cycle and has since seen 2 bullish price pumps that brought monumental gains to long-term XRP holders. Despite these pumps, analysts believe greater pumps lie ahead for the price of XRP and are constantly watching the charts. According to one reputed analyst, the price of XRP could see a breakout and bull pump very soon

As we can see from the post above, this analyst has been watching XRP’s price moments closely and highlights how XRP continues defending the 0.5 macro support at $2.03, and now we’re seeing another critical test of that level. After the strong reaction a few days ago, price pushed into the local trendline resistance near $2.165, which is becoming more and more defined as multiple touches build structure on the chart

From there, XRP pulled back to the macro 0.5 again. We did see a slight dip under the fib, but the structure still looks okay. Importantly, price did not break below $1.97, which is the line in the sand for confirming the pink (bearish) scenario, as depicted in the chart accompanying the post, that targets the macro .618 at $1.64. As long as $1.97 holds, the deeper retracement scenario is not confirmed

Analyst Prepares for Calculated Breakouts

The move below the 0.5 support also created a bullish divergence up to the 4-hour timeframe, which gives short-term support for another reaction upward. XRP needs to reclaim the macro 0.5 at $2.03 and hold it as support. The analyst states that a clean breakout could first reach the trendline around $2.14, then pull back to the $2.03 fib for confirmation

She still expects macro supports at $2.03 (0.5) and $1.64 (0.618), with macro resistance at $2.41 (0.236), breaking this confirms the bullish purple scenario. If purple plays out, the next measured targets stand around $2.75 and $2.90. If pink takes over, $1.97 breaks and XRP works toward the $1.64 major support.