XRP is facing renewed selling pressure due to the technical outlook indicated by recent on-chain data. According to data shared by cryptocurrency analyst Ali Martinez, the current support zone for the asset was formed at $1.06. However, recent price action indicates that this threshold is weakening.
Prominent support levels
According to data cited by Martinez, the $1.06 level has become an important support point following the recent market correction. More than 830 million XRP was previously received in this region. In the analysis, it was pointed out that the levels where intense purchases were made in the past can serve as support if the price reaches those areas again.
For XRP, $1.06, $0.80, $0.62 and $0.51 levels stand out; These regions are closely monitored for the direction of the price, as they have been areas with high transaction density in the past.
According to the analyst, there are signs of a deeper retreat in XRP. If the $1.06 level cannot be maintained, the price is likely to head first to the $0.80 region and then to lower supports. In this scenario, the risk of falling below the $1 threshold remains on the agenda.
| Level | Importance |
|---|---|
| $1.06 | Current support, more than 830 million XRP received in this region |
| $0.80 | Watched as next close support |
| $0.62 | The region where 1.16 billion XRP movements were seen in the past |
| $0.51 | Other critical support tracked further below |
What on-chain data shows
According to shared historical data, approximately 1.16 billion XRP previously changed hands around $0.62. Therefore, if the current support is broken permanently, the possibility of the price retreating to the $0.63 region is considered. Such regions are technically important as they are areas where investors have taken intense positions in the past.
Ali Martinez stands out as a market analyst known for his on-chain data and chart-based posts. The term on-chain data used in the news is based on direct network data such as wallet transactions and transaction clusters on the blockchain.
Mini dictionary: On-chain data refers to data such as transfers, wallets and cost distributions that are publicly visible on the blockchain. The support level is defined as the region where buyers have concentrated in the past and where price declines may therefore slow down.
Price ranges where intense transactions have been recorded in the past stand out as regions that can slow down the selling pressure or strengthen demand when retested.
Recent price action adds to the pressure
As market volatility continues, XRP recently retested the $1.01 level. This region was last seen in November 2024. The latest price movement has strengthened assessments that the asset may have lost its current support.
Under this outlook, all eyes in the market turned to the $0.80 level, which stands out as the next support. The analysis emphasizes that if the $1 level cannot be maintained, the downward pressure may deepen.
