XRP Support Zone Holds Key to $2 Price Target

XRP, the cryptocurrency behind Ripple, has taken a 20% hit from its August high of $1.70, sparking concerns about its future price.

Despite this pullback, analyst Ali Martinez is optimistic about XRP's prospects, pointing to a critical support zone that could determine whether $2 remains in play.

The support zone lies between $1.31 and $1.38, where over 4.8 billion XRP were previously acquired. This area also forms a bullish flag pattern on the hourly chart, with an hourly close above $1.38 confirming the breakout and putting $2 back in focus.

However, there are still hurdles to clear before XRP can reach its target price. Resistance levels at $1.60, $1.68, and $1.86 must be overcome, with over 3 billion XRP traded at each level.