XRP Price Finds Support at Massive 3.2 Billion Token Demand Zone

XRP's price has cooled off after its recent rally, but on-chain data suggests that buyers are still holding strong at key support levels. According to analyst Ali Martinez, approximately 3.2 billion XRP were traded between $1.35 and $1.38, making it one of the largest demand zones for XRP.

This comes after XRP's price rose by 71.8% from $0.988 to $1.698 before pulling back about 20%. Despite this decline, XRP remains above one of its strongest support clusters, giving bulls a level worth defending.

Analyst EGRAG Crypto believes that the XRP price may still need to retest lower levels before attempting another major move higher. According to his tracking model, XRP could continue trading around $1.40, drop into the $1.15-$1.20 range, and then attempt a recovery.