XRP’s $2.8 Barrier: Will Bullish Momentum Overcome Resistance?

Cryptocurrency analyst Lark Davis (@TheCryptoLark) highlights a crucial resistance level for XRP, prompting questions about the cryptocurrency’s short-term trajectory. While analyzing the past and present trends in technical indicators like Fibonacci retracement, Davis points to two major hurdles: first, the previous support level at $2.8 that now acts as resistance, marked by a yellow line on his chart. The second is the 0.618 Fibonacci retracement level, situated just above the $2.8 mark. A weekly close above $2.8 is crucial for XRP bulls to maintain their momentum.