XRP Consolidates Around Key Support Band as ETF Inflows Surge

XRP's recent price drop has led to a consolidation period around a key support band between $1.31 and $1.38, which is heavily traded and holds significant importance for the token's near-term price action.

Analyst Ali Martinez highlights this range as critical, citing over 4.8 billion XRP acquired within it, creating a large group of holders at or near their cost basis.

If this support band gives way, these holders could become sellers, adding downward pressure to the market.

On the other hand, if the $1.31 support holds, and bulls can push through the resistance at $1.86, a clean move above it could open the path towards the upper target of $2.19, making $2 an intermediate milestone rather than the immediate target.