XRP Support Zone in Focus as Price Fades

XRP's recent price surge has fizzled out, and the cryptocurrency is now facing a critical test of support. After rallying from $1.00 to a multi-month peak at $1.70, XRP has pulled back by 20% to around $1.40.

The token's underlying activity remains strong, with active addresses on the XRP Ledger increasing by over 650% in recent days. However, the asset is struggling to hold above its 50-week exponential moving average at $1.54, which could signal further weakness.

Ali Martinez notes that the current price action has weakened the technical structure of XRP, and the token's resistance barriers are now key to determining its next move. According to Martinez, if XRP can break above $1.86, it could open the door for a run towards $2.00.

However, holding above $1.40 is crucial in the short term, and the asset is currently testing a major support zone between $1.35 and $1.38. This area has seen significant trading volume, with roughly 3.2 billion XRP traded.