Pay Close Attention to This Level in XRP: “If It Rebounds, It Will Do So From Here”

Crypto analyst Ali Martinez said that $XRP has reached a critical support zone after the sharp correction in recent weeks, and the $1.35 level could be decisive for short-term price movement. According to data shared by Martinez, $XRP has lost approximately 20% of its value in the last three weeks, falling from $1.70 to $1.35.

One of the reasons cited for the pullback in $XRP is profit-taking by large investors. Martinez stated that whales have sold or distributed approximately 90 million $XRP to different addresses in the last week.

Parallel to the price drop, there was also a significant decline in activity on the $XRP network. The number of daily active addresses decreased by 90.18%, from 388,492 to 38,163. According to Martinez, this indicates a significant decrease in investor participation during the correction period.

However, $XRP appears to have found strong support around $1.35. The fact that approximately 2.29 billion $XRP have changed hands in this price region in the past increases the technical significance of this level.

Martinez stated that if the $1.35 support level holds and $XRP rises above $1.38 again, the price could recover first to $1.60 and then to $1.68. According to the analyst, the most critical level to watch for $XRP in the short term will be the $1.35 support level.

*This is not investment advice.

Source: cryptonews.net