XRP Slides Toward $0.50-$0.52 Zone as Demand Remains Weak

XRP has been struggling to find support around its current price of $1.0047, and market data suggests that this could be a sign of steeper declines ahead.

CryptoQuant analyst Pelinay believes that XRP could still fall by as much as 50% from current levels, potentially sending the asset back to prices last seen before its November 2024 rally.

The current decline is largely attributed to a lack of strong new demand rather than whale selling, which has been steadily declining. Whale-to-Exchange Flow has dropped to just 77, a significant decrease from the major spikes seen during earlier periods.

Pelinay notes that this does not necessarily mean buyers have returned, but rather that much of the heavy selling from large holders may have already taken place. The bigger concern now is the lack of strong new demand, which could push XRP toward the $0.50-$0.52 zone if buyers fail to provide enough spot demand around $1.