XRP Price Drops 20% After Rally, Analysts Eye Key Demand Zone

XRP's recent price surge has come to an abrupt halt as it falls by 20% from its peak of $1.698. The price is now testing a key demand zone between $1.35 and $1.38, with analysts watching closely for signs that buyers may return.

According to Matthew Dixon, XRP may have completed an A-B-C correction after falling from around $3.65. He notes that the move toward the $1.00 area and the later weekly rebound could be a sign of a major bottom forming.

Ali Martinez takes a different view, identifying $1.86 as a key breakout level. However, his chart places the next resistance at $2.19, where 3.12 billion XRP previously traded.