XRP Support Zone at $1.35 Crucial for Short-Term Price Movement
Crypto analyst Ali Martinez highlighted a critical support zone for XRP after its recent correction. The $1.35 level could be decisive for short-term price movement, as it has strong technical significance due to high trading activity in this region.
The sharp drop in XRP's value over the past three weeks, from $1.70 to $1.35, can be attributed in part to profit-taking by large investors. Whales have sold or distributed approximately 90 million XRP to different addresses in the last week.
A decline in activity on the XRP network has also been observed, with a 90.18% decrease in daily active addresses from 388,492 to 38,163. However, if the $1.35 support level holds and XRP rises above $1.38, the price could recover first to $1.60 and then to $1.68.