Current Structure
Following a recent strong pullback, XRP has recovered to the upper limits of its short-term range. The $1.54 to $1.55 area is once again in focus as the first significant resistance level. MakroVision's assessment suggests that despite the bounce, the overall chart formation remains weak. The current price is still below major resistance, indicating no structural trend shift has occurred. The current move appears more like an attempt to bottom out after a sharp decline rather than a confirmed rally.
The range between $1.32 and $1.55 is the critical structure at the moment. Both boundaries serve specific roles. The $1.32 support is crucial for maintaining current stability. As long as XRP stays above this level, the attempt to form a bottom remains valid. A break below $1.32 on a two-day closing basis would invalidate the current stability and significantly increase the likelihood of testing lower levels.
Bullish Scenario
MakroVision points out that a sustained breakout above $1.55 would signal a significant technical improvement for XRP. Above this level, the target would be $1.82, the next significant resistance zone on higher timeframes. For the mid-term chart formation to fully resolve to the upside, a decisive break above $1.82 would be necessary, rather than just considering it a possibility.
With the current price hovering around $1.44, the distance to $1.55 is approximately 7.6%, while the distance from $1.55 to the $1.82 target is about 17.4%. This two-stage structure suggests that once $1.55 is confirmed, a 17% rally could ensue without needing further individual catalysts at each level.
Bearish Scenario
If the current rejection at resistance persists and is accompanied by fresh downside momentum, selling pressure could intensify rapidly. The key level to the downside is $1.32, which MakroVision identifies as the support holding the current stability. A break below this level on a two-day closing basis would shift the structure from a bottoming attempt to a downtrend, significantly increasing the risk of testing lower price areas.
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Rejection at the $1.54 to $1.55 zone has occurred multiple times, a point MakroVision emphasizes in its conclusion. A level that has rejected price on multiple attempts is clearly more significant as resistance than one tested only once. Each failed attempt at $1.55 adds weight to the resistance and decreases the probability of success on the next attempt, unless market conditions change.
Summary Verdict
MakroVision's conclusion is clear. As long as the price remains below $1.55, the current bounce technically resembles a counter-trend rally rather than a structural reversal. Only a sustained breakout above $1.55 would alter this assessment.