XRP Price Needs To Hold This Macro Support For Hope Of Revival

XRP has spent the past 48 hours grinding lower, with its price gradually retreating to $2 after failing to sustain the rally above $2.10 at the beginning of the week. Selling pressure has been mostly controlled rather than aggressive, but each attempt to push higher has been met with a local trendline resistance near $2.165. Technical analysis shared by crypto analyst CasiTrades outlines an important macro support level that may determine whether XRP can stabilize and attempt another bullish recovery or fall into another bearish corrective phase below $2. XRP Defends An Important Macro Support Zone Around $2.03 According to CasiTrades’ analysis, XRP is still defending the macro 0.5 Fibonacci retracement level, which sits around $2.03 and has acted as a key structural support on the chart. This is visible in the recent price action, as the cryptocurrency is currently trading at $2.04, having rebounded from a low of $1.99 in the past 24 hours. Related Reading: Analyst Predicts XRP Price