XRP is testing a critical support zone as it recovers from a 20% correction following its recent rally. According to market analyst Ali Martinez, the cryptocurrency climbed 71.8% from $0.988 to $1.698 before retreating to a major demand area between $1.35 and $1.38.
On-chain data from Glassnode's UTXO Realized Price Distribution shows approximately 3.2 billion XRP were previously traded within this support range, making it one of the asset's most significant accumulation zones. The concentration of historical trading activity suggests strong potential buying interest if XRP holds above these levels.
Resistance Levels Above Current Price
Multiple resistance barriers exist above the current price. The first notable level sits at $1.60, where roughly 1.99 billion XRP changed hands historically. Another resistance emerges at $1.68, backed by approximately 1.98 billion XRP in trading volume.
The most significant overhead resistance appears at $1.86, where about 3.47 billion XRP previously traded. This represents the largest concentration of selling activity above the support zone and could act as a major hurdle for upward momentum.
Potential Upside Targets
If XRP successfully defends the support region and reclaims higher resistance levels, a move above $1.86 could signal that buyers have absorbed significant overhead supply. Beyond that level, the next major target is $2.19, where another 3.12 billion XRP were traded according to the on-chain data.
Current Technical Position
At press time, XRP was trading at $1.39, down nearly 6% over the past week. Despite the recent pullback, XRP remains above both its 50-day simple moving average of $1.13 and 200-day SMA of $1.28, suggesting the broader uptrend remains intact.
The 14-day relative strength index stands at 64.75, just below the overbought threshold of 70. This reading indicates strong buying momentum while suggesting that upside gains could face headwinds in the short term if buying pressure intensifies further.
